Piper Sandler Companies (NYSE:PIPR) Holdings Lowered by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund trimmed its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,817 shares of the financial services provider’s stock after selling 289 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Piper Sandler Companies were worth $879,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. lifted its stake in Piper Sandler Companies by 194.7% in 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 in the last quarter. Parallel Advisors LLC lifted its stake 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 acquiring an additional 64 shares in the last quarter. nVerses Capital LLC lifted its stake in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 100 shares in the last quarter. Mather Group LLC. purchased a new stake in Piper Sandler Companies in the 1st quarter worth about $64,000. Finally, Quadrant Capital Group LLC lifted its stake in Piper Sandler Companies by 21.1% in the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 80 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $261.57 on Tuesday. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $280.45. The stock’s 50-day moving average is $263.11 and its two-hundred day moving average is $244.19. The firm has a market cap of $4.63 billion, a P/E ratio of 44.48 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. During the same period in the prior year, the firm posted $1.13 EPS. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a $0.65 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, June 11th.

Insiders Place Their Bets

In other news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The disclosure for this sale can be found here. Insiders have sold a total of 16,276 shares of company stock valued at $3,936,252 in the last three months. Insiders own 3.00% of the company’s stock.

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.