Public Employees Retirement System of Ohio Sells 1,672 Shares of Piper Sandler Companies (NYSE:PIPR)

Public Employees Retirement System of Ohio decreased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,063 shares of the financial services provider’s stock after selling 1,672 shares during the period. Public Employees Retirement System of Ohio owned 0.07% of Piper Sandler Companies worth $3,707,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Piper Sandler Companies by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock valued at $1,795,000 after acquiring an additional 300 shares during the last quarter. New York State Teachers Retirement System increased its position in Piper Sandler Companies by 1.9% in the second quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after purchasing an additional 610 shares during the period. Bank of New York Mellon Corp raised its holdings in Piper Sandler Companies by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after purchasing an additional 9,380 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in Piper Sandler Companies during the 2nd quarter valued at about $757,000. Institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Down 0.5 %

NYSE:PIPR opened at $318.96 on Monday. Piper Sandler Companies has a 1-year low of $162.50 and a 1-year high of $351.80. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 34.08 and a beta of 1.43. The firm has a 50-day moving average of $335.19.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.82%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

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.