Louisiana State Employees Retirement System Buys 300 Shares of Piper Sandler Companies (NYSE:PIPR)

Louisiana State Employees Retirement System lifted its stake in Piper Sandler Companies (NYSE:PIPR) by 4.0% in the second quarter, HoldingsChannel.com reports. The fund owned 7,800 shares of the financial services provider’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Piper Sandler Companies were worth $1,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Piper Sandler Companies in the fourth quarter worth approximately $29,000. Parallel Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Piper Sandler Companies in the first quarter worth approximately $64,000. Finally, FSC Wealth Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Transactions at Piper Sandler Companies

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

Analyst Ratings Changes

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

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $273.95 on Friday. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $280.45. The company has a market capitalization of $4.85 billion, a P/E ratio of 46.59 and a beta of 1.41. The firm’s 50 day simple moving average is $261.93 and its two-hundred day simple moving average is $235.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is 40.82%.

Piper Sandler Companies Company 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.