State of New Jersey Common Pension Fund D Sells 6,141 Shares of Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D trimmed its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 40.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,967 shares of the financial services provider’s stock after selling 6,141 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Piper Sandler Companies worth $2,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of 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 acquiring an additional 74 shares during the last quarter. Parallel Advisors LLC raised its holdings in Piper Sandler Companies by 62.1% in the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 64 shares during the period. nVerses Capital LLC lifted its position in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. Mather Group LLC. bought a new stake in Piper Sandler Companies during the first quarter valued at about $64,000. Finally, Quadrant Capital Group LLC grew its holdings in Piper Sandler Companies by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 80 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction on Monday, August 5th. The shares were 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 directly owns 160,095 shares in the company, valued at $37,883,279.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock valued at $3,936,252 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $286.99 on Friday. The stock has a 50 day moving average price of $268.21 and a 200 day moving average price of $251.63. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $287.90. The firm has a market capitalization of $5.08 billion, a P/E ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (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 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 prior year, the company earned $1.13 EPS. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

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

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.