Arizona State Retirement System Boosts Stock Position in Piper Sandler Companies (NYSE:PIPR)

Arizona State Retirement System lifted its position in Piper Sandler Companies (NYSE:PIPR) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,137 shares of the financial services provider’s stock after purchasing an additional 40 shares during the quarter. Arizona State Retirement System’s holdings in Piper Sandler Companies were worth $1,541,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PIPR. Crossmark Global Holdings Inc. boosted its holdings in Piper Sandler Companies by 42.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 458 shares during the period. Versor Investments LP purchased a new stake in Piper Sandler Companies during the 3rd quarter valued at about $880,000. Victory Capital Management Inc. boosted its holdings in Piper Sandler Companies by 20.6% during the 3rd quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock valued at $4,509,000 after acquiring an additional 2,713 shares during the period. KBC Group NV boosted its holdings in Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 95 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its holdings in Piper Sandler Companies by 2.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 58 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $254.80 on Thursday. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The stock has a 50 day simple moving average of $285.58 and a two-hundred day simple moving average of $300.31. The stock has a market cap of $4.52 billion, a P/E ratio of 24.93 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate 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 company posted $4.03 earnings per share. Sell-side analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

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.