New York State Teachers Retirement System Cuts Stock Position in Piper Sandler Companies (NYSE:PIPR)

New York State Teachers Retirement System trimmed its holdings in Piper Sandler Companies (NYSE:PIPR) by 3.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 28,949 shares of the financial services provider’s stock after selling 1,100 shares during the period. New York State Teachers Retirement System’s holdings in Piper Sandler Companies were worth $8,683,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PIPR. Coldstream Capital Management Inc. boosted its stake in Piper Sandler Companies by 2.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 41 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 56 shares in the last quarter. CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Piper Sandler Companies by 2.7% during the third quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 58 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $309.33 on Wednesday. The company has a market cap of $5.50 billion, a PE ratio of 30.27 and a beta of 1.46. Piper Sandler Companies has a 1 year low of $182.84 and a 1 year high of $351.80. The stock’s 50 day simple moving average is $308.44 and its two-hundred day simple moving average is $315.02.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the firm posted $4.03 EPS. Equities research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.84%. Piper Sandler Companies’s payout ratio is 25.44%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PIPR shares. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.