Public Employees Retirement System of Ohio Boosts Stock Position in Piper Sandler Companies $PIPR

Public Employees Retirement System of Ohio grew its position in Piper Sandler Companies (NYSE:PIPR) by 27.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,572 shares of the company’s stock after purchasing an additional 9,044 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.06% of Piper Sandler Companies worth $3,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of Piper Sandler Companies by 0.3% in the fourth quarter. Invesco Ltd. now owns 716,829 shares of the company’s stock worth $243,514,000 after acquiring an additional 2,285 shares during the period. Bank of New York Mellon Corp grew its position in Piper Sandler Companies by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock worth $41,466,000 after purchasing an additional 2,967 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Piper Sandler Companies by 6.4% during the 4th quarter. JPMorgan Chase & Co. now owns 294,624 shares of the company’s stock valued at $100,087,000 after buying an additional 17,694 shares during the last quarter. Norges Bank acquired a new position in shares of Piper Sandler Companies in the 4th quarter valued at about $79,239,000. Finally, North Reef Capital Management LP boosted its stake in shares of Piper Sandler Companies by 35.1% in the fourth quarter. North Reef Capital Management LP now owns 204,900 shares of the company’s stock worth $69,607,000 after buying an additional 53,193 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $95.06.

Piper Sandler Companies Stock Down 0.9%

NYSE:PIPR opened at $77.04 on Friday. Piper Sandler Companies has a 52 week low of $68.70 and a 52 week high of $95.07. The stock has a market capitalization of $5.44 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.80 and a beta of 1.40. The stock’s 50-day moving average price is $74.98 and its 200-day moving average price is $77.82.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.16. The firm had revenue of $491.14 million during the quarter, compared to analyst estimates of $445.28 million. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%.Piper Sandler Companies’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.92 EPS. Sell-side analysts expect that Piper Sandler Companies will post 4.51 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Piper Sandler Companies’s dividend payout ratio is presently 18.52%.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.