State of New Jersey Common Pension Fund D Has $2.06 Million Stake in Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 40.6% in the second quarter, HoldingsChannel.com reports. The fund owned 8,967 shares of the financial services provider’s stock after selling 6,141 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Piper Sandler Companies were worth $2,064,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. TFO Wealth Partners LLC boosted its stake in Piper Sandler Companies by 172,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 1,725 shares in the last quarter. 1492 Capital Management LLC boosted its position in shares of Piper Sandler Companies by 1.1% during the 4th quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 68 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Piper Sandler Companies by 1.9% in the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after buying an additional 610 shares during the period. Vanguard Group Inc. increased its position in Piper Sandler Companies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock valued at $341,051,000 after buying an additional 15,075 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its stake in Piper Sandler Companies by 40.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock worth $1,030,000 after buying an additional 1,689 shares during the period. 72.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock valued at $3,936,252 in the last three months. 3.00% of the stock is currently owned by insiders.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $286.99 on Friday. Piper Sandler Companies has a one year low of $130.89 and a one year high of $287.90. The company has a market cap of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39. The firm has a 50-day moving average of $268.21 and a 200-day moving average of $251.63.

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. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. During the same period in the previous year, the company posted $1.13 EPS. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, equities research analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.91%. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Analyst Ratings Changes

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday.

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.