State of New Jersey Common Pension Fund D Has $2.06 Million Stake in Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 40.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 about 0.05% of Piper Sandler Companies worth $2,064,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its position 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 purchasing an additional 74 shares during the period. Parallel Advisors LLC increased 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 valued at $29,000 after buying an additional 64 shares during the period. nVerses Capital LLC raised its position in shares of Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Piper Sandler Companies during the 1st quarter worth approximately $64,000. Finally, FSC Wealth Advisors LLC boosted its position in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Up 1.1 %

Piper Sandler Companies stock opened at $286.99 on Friday. The stock has a market cap of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39. Piper Sandler Companies has a 12-month low of $130.89 and a 12-month high of $287.90. The business’s 50-day moving average price is $268.21 and its two-hundred day moving average price is $251.63.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) 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 company had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. During the same period in the previous year, the firm posted $1.13 EPS. The firm’s revenue was up 23.7% on a year-over-year basis. As a group, analysts expect that Piper Sandler Companies will post 11.53 earnings per share 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 given a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.91%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is currently 44.22%.

Insiders Place Their Bets

In related news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 160,095 shares in the company, valued at approximately $37,883,279.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, 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 a total of 16,276 shares of company stock valued at $3,936,252 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

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.