Illinois Municipal Retirement Fund Grows Position in Piper Sandler Companies (NYSE:PIPR)

Illinois Municipal Retirement Fund raised its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 8,935 shares of the financial services provider’s stock after purchasing an additional 320 shares during the period. Illinois Municipal Retirement Fund’s holdings in Piper Sandler Companies were worth $2,680,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. FMR LLC increased its holdings in Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after buying an additional 205,584 shares during the period. Fred Alger Management LLC bought a new stake in Piper Sandler Companies during the 3rd quarter valued at $14,645,000. Barclays PLC increased its holdings in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after acquiring an additional 24,388 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Piper Sandler Companies in the 3rd quarter worth $6,106,000. Finally, Van ECK Associates Corp bought a new position in shares of Piper Sandler Companies in the 4th quarter worth $4,275,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 0.7 %

Shares of PIPR opened at $281.29 on Friday. Piper Sandler Companies has a 12 month low of $183.57 and a 12 month high of $351.80. The stock has a fifty day moving average price of $303.87 and a 200-day moving average price of $310.30. The firm has a market cap of $5.00 billion, a PE ratio of 27.52 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $4.03 earnings per share. As a group, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Wall Street Analyst Weigh In

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

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.