State of New Jersey Common Pension Fund D Sells 843 Shares of Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D lowered its stake in Piper Sandler Companies (NYSE:PIPR) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,451 shares of the financial services provider’s stock after selling 843 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Piper Sandler Companies were worth $1,935,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PIPR. Allworth Financial LP lifted its position in shares of Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC raised its stake in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after buying an additional 60 shares in the last quarter. Principal Securities Inc. lifted its holdings in Piper Sandler Companies by 280.9% in the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock worth $102,000 after buying an additional 250 shares during the period. KBC Group NV boosted its position 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 in the last quarter. Finally, Vicus Capital bought a new stake in Piper Sandler Companies during the 4th quarter valued at approximately $207,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PIPR has been the subject of several research reports. The Goldman Sachs Group increased their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Trading Down 3.0 %

NYSE:PIPR opened at $280.05 on Tuesday. The company has a market cap of $4.98 billion, a PE ratio of 27.40 and a beta of 1.46. The company has a 50 day simple moving average of $307.16 and a two-hundred day simple moving average of $312.30. Piper Sandler Companies has a 12 month low of $183.25 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued 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 net margin of 11.87% and a return on equity of 17.00%. During the same period in the previous year, the firm posted $4.03 EPS. Research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.93%. Piper Sandler Companies’s payout ratio is currently 25.44%.

Piper Sandler Companies 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.