State of New Jersey Common Pension Fund D Has $1.94 Million Holdings in Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D decreased its stake in Piper Sandler Companies (NYSE:PIPR) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 institutional investors and hedge funds have also bought and sold shares of PIPR. West Oak Capital LLC lifted its position in Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,300 shares during the period. Allworth Financial LP lifted its holdings in shares of Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC boosted its position in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. Principal Securities Inc. increased its stake 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 valued at $102,000 after acquiring an additional 250 shares during the period. Finally, KBC Group NV raised its position in Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 3.0 %

PIPR stock opened at $280.05 on Tuesday. Piper Sandler Companies has a twelve month low of $183.25 and a twelve month high of $351.80. The company has a market cap of $4.98 billion, a P/E ratio of 27.40 and a beta of 1.46. The business’s fifty day moving average is $307.16 and its 200-day moving average is $312.30.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter in the previous year, the firm posted $4.03 EPS. Research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

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.