New York State Teachers Retirement System Has $7.40 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

New York State Teachers Retirement System lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,149 shares of the financial services provider’s stock after buying an additional 610 shares during the period. New York State Teachers Retirement System’s holdings in Piper Sandler Companies were worth $7,400,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Piper Sandler Companies in the fourth quarter worth approximately $21,023,000. Mairs & Power Inc. grew its stake in Piper Sandler Companies by 210.8% during the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock worth $21,526,000 after purchasing an additional 83,495 shares during the period. Goldman Sachs Group Inc. lifted its stake in Piper Sandler Companies by 37.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock valued at $38,583,000 after buying an additional 59,915 shares during the period. SageView Advisory Group LLC bought a new position in shares of Piper Sandler Companies during the 1st quarter worth approximately $10,970,000. Finally, Edgestream Partners L.P. increased its stake in shares of Piper Sandler Companies by 295.6% in the 1st quarter. Edgestream Partners L.P. now owns 29,404 shares of the financial services provider’s stock valued at $5,836,000 after acquiring an additional 21,972 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $273.95 on Monday. The firm has a fifty day simple moving average of $261.93. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 46.59 and a beta of 1.41. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $280.45.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.95%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 29th. Piper Sandler Companies’s payout ratio is currently 44.22%.

Insider Transactions at Piper Sandler Companies

In related news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the completion of the transaction, the general counsel now owns 15,065 shares in the company, valued at $3,867,637.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

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.