Arizona State Retirement System Acquires 83 Shares of Piper Sandler Companies (NYSE:PIPR)

Arizona State Retirement System grew its holdings in Piper Sandler Companies (NYSE:PIPR) by 1.7% in the second quarter, HoldingsChannel reports. The fund owned 4,950 shares of the financial services provider’s stock after buying an additional 83 shares during the period. Arizona State Retirement System’s holdings in Piper Sandler Companies were worth $1,139,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PIPR. Blue Trust Inc. boosted 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 valued at $26,000 after acquiring an additional 74 shares during the period. Parallel Advisors LLC boosted its position in shares of Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring 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 worth $46,000 after purchasing an additional 100 shares during the period. Mather Group LLC. bought a new stake in Piper Sandler Companies during the first quarter worth about $64,000. Finally, Quadrant Capital Group LLC lifted its position 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 worth $80,000 after purchasing an additional 80 shares during the period. Institutional investors own 72.79% of the company’s stock.

Insiders Place Their Bets

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the business’s 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 completion of the transaction, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the business’s 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 completion of the transaction, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is currently owned by corporate insiders.

Piper Sandler Companies Stock Up 2.1 %

PIPR opened at $261.07 on Friday. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $280.45. The company has a 50-day simple moving average of $264.50 and a 200 day simple moving average of $245.78. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 44.40 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data 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. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. Piper Sandler Companies’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 earnings per share. Sell-side analysts anticipate that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.65 per share. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 1.00%. Piper Sandler Companies’s payout ratio is presently 44.22%.

Analyst Upgrades and Downgrades

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

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.