Illinois Municipal Retirement Fund Reduces Holdings in Piper Sandler Companies (NYSE:PIPR)

Illinois Municipal Retirement Fund reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 2.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 8,483 shares of the financial services provider’s stock after selling 183 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Piper Sandler Companies were worth $1,684,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC lifted its position in Piper Sandler Companies by 172,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 1,725 shares during the last quarter. 1492 Capital Management LLC raised its position in shares of Piper Sandler Companies by 1.1% during the 4th quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 68 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock worth $341,051,000 after buying an additional 15,075 shares in the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Piper Sandler Companies by 40.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock worth $1,030,000 after buying an additional 1,689 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Piper Sandler Companies by 3.7% during the 4th quarter. Truist Financial Corp now owns 27,772 shares of the financial services provider’s stock worth $4,856,000 after buying an additional 999 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Up 1.1 %

Shares of PIPR stock traded up $2.71 during trading hours on Friday, reaching $242.91. 179,200 shares of the stock traded hands, compared to its average volume of 124,425. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $246.13. The business has a fifty day moving average price of $221.37 and a 200 day moving average price of $209.73. The firm has a market capitalization of $4.30 billion, a PE ratio of 41.31 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.90. The firm had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. Research analysts expect that Piper Sandler Companies will post 11.82 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Insider Buying and Selling

In related news, President Debbra L. Schoneman sold 3,978 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $212.29, for a total transaction of $844,489.62. Following the completion of the sale, the president now directly owns 44,105 shares of the company’s stock, valued at approximately $9,363,050.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, President Debbra L. Schoneman sold 3,978 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $212.29, for a total transaction of $844,489.62. Following the completion of the sale, the president now directly owns 44,105 shares of the company’s stock, valued at approximately $9,363,050.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $213.27, for a total transaction of $217,961.94. Following the sale, the president now directly owns 43,083 shares of the company’s stock, valued at $9,188,311.41. The disclosure for this sale can be found here. In the last three months, insiders sold 6,570 shares of company stock valued at $1,393,941. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities restated 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.