Maryland State Retirement & Pension System Sells 62 Shares of Piper Sandler Companies (NYSE:PIPR)

Maryland State Retirement & Pension System cut its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 5,468 shares of the financial services provider’s stock after selling 62 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Piper Sandler Companies were worth $956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PIPR. GAMMA Investing LLC bought a new position in Piper Sandler Companies during the fourth quarter valued at about $29,000. West Oak Capital LLC purchased a new stake in Piper Sandler Companies in the fourth quarter worth $33,000. Cerity Partners LLC bought a new stake in Piper Sandler Companies in the 4th quarter valued at about $218,000. Parcion Private Wealth LLC bought a new position in Piper Sandler Companies in the 4th quarter worth approximately $240,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Piper Sandler Companies during the 3rd quarter valued at $201,000. 72.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Piper Sandler Companies

In related news, General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the transaction, the general counsel now directly owns 16,854 shares in the company, valued at approximately $3,558,553.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $211.14, for a total value of $331,489.80. Following the sale, the general counsel now owns 16,854 shares of the company’s stock, valued at approximately $3,558,553.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Debbra L. Schoneman sold 3,555 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $184.84, for a total transaction of $657,106.20. Following the completion of the transaction, the president now owns 11,518 shares in the company, valued at approximately $2,128,987.12. The disclosure for this sale can be found here. Insiders sold a total of 10,125 shares of company stock worth $1,942,059 over the last three months. Company insiders own 3.00% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $213.01 on Friday. Piper Sandler Companies has a 1-year low of $121.57 and a 1-year high of $214.94. The company has a market capitalization of $3.77 billion, a P/E ratio of 36.23 and a beta of 1.40. The firm’s 50 day simple moving average is $197.06 and its 200 day simple moving average is $192.28.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.90. The business had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. Piper Sandler Companies’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.35 earnings per share. On average, equities analysts anticipate that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.13%. The ex-dividend date is Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is presently 40.82%.

Analysts Set New Price Targets

PIPR has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th. StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th.

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.