New York State Teachers Retirement System Sells 1,100 Shares of Piper Sandler Companies (NYSE:PIPR)

New York State Teachers Retirement System trimmed its position in Piper Sandler Companies (NYSE:PIPR) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 owned approximately 0.16% of Piper Sandler Companies worth $8,683,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PIPR. Coldstream Capital Management Inc. increased its stake in Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 41 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 56 shares during the period. CWM LLC lifted its holdings in 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 in the last quarter. OneDigital Investment Advisors LLC lifted its holdings 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 worth $618,000 after acquiring an additional 58 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 60 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

NYSE:PIPR 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 52-week low of $182.84 and a 52-week high of $351.80. The stock has a 50-day simple moving average of $308.44 and a 200 day simple moving average of $315.02.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period last year, the firm earned $4.03 EPS. On average, research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.