State of New Jersey Common Pension Fund D Decreases Stock Position in Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D lessened its stake in Piper Sandler Companies (NYSE:PIPR) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,295 shares of the company’s stock after selling 2,492 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Piper Sandler Companies were worth $2,554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Veriti Management LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at approximately $76,000. Creative Planning purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at approximately $203,000. 6 Meridian purchased a new position in shares of Piper Sandler Companies during the 1st quarter valued at approximately $206,000. Schulhoff & Co. Inc. purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at approximately $217,000. Finally, NorthRock Partners LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at approximately $253,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.

Separately, Zacks Investment Research upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research note on Thursday, May 6th.

Shares of NYSE PIPR opened at $125.51 on Monday. Piper Sandler Companies has a 1-year low of $50.53 and a 1-year high of $125.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.68. The business’s fifty day moving average price is $115.86 and its two-hundred day moving average price is $106.43. The firm has a market capitalization of $2.29 billion, a PE ratio of 50.00 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Thursday, April 29th. The company reported $4.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.12 by $1.01. Piper Sandler Companies had a return on equity of 17.52% and a net margin of 3.24%. Equities research analysts expect that Piper Sandler Companies will post 8.11 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 11th. Shareholders of record on Friday, May 28th will be given a $0.45 dividend. The ex-dividend date is Thursday, May 27th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.43%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 21.74%.

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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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Institutional Ownership by Quarter for Piper Sandler Companies (NYSE:PIPR)

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