Piper Sandler Companies (NYSE:PIPR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in Piper Sandler Companies (NYSE:PIPR) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,294 shares of the financial services provider’s stock after selling 1,673 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Piper Sandler Companies were worth $2,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PIPR. Blue Trust Inc. increased its holdings in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $77,000. CWM LLC increased its stake in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. Finally, FSC Wealth Advisors LLC raised its position in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $336.11 on Friday. Piper Sandler Companies has a 1 year low of $150.30 and a 1 year high of $347.15. The company’s 50 day simple moving average is $306.39 and its 200 day simple moving average is $284.28. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 35.91 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Equities analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Analyst Upgrades and Downgrades

PIPR has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at $4,840,556.72. This trade represents a 8.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by company insiders.

Piper Sandler Companies Profile

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.