Louisiana State Employees Retirement System Acquires 300 Shares of Piper Sandler Companies (NYSE:PIPR)

Louisiana State Employees Retirement System boosted its holdings in Piper Sandler Companies (NYSE:PIPR) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,800 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Piper Sandler Companies were worth $1,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares during the last quarter. GAMMA Investing LLC bought a new stake in Piper Sandler Companies during the fourth quarter worth about $29,000. Parallel Advisors LLC grew its stake in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares during the last quarter. Mather Group LLC. bought a new stake in Piper Sandler Companies during the first quarter worth about $64,000. Finally, Quadrant Capital Group LLC grew its stake 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 buying an additional 80 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Piper Sandler Companies

In other news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the completion of the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the transaction, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were 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 directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock valued at $3,936,252 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $273.95 on Friday. Piper Sandler Companies has a 52 week low of $130.89 and a 52 week high of $280.45. The company has a market capitalization of $4.85 billion, a PE ratio of 46.59 and a beta of 1.41. The company has a 50 day moving average price of $261.93 and a two-hundred day moving average price of $235.39.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating the consensus estimate of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The firm had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. During the same quarter in the prior year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was up 23.7% on a year-over-year basis. On average, sell-side analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given 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 of this dividend is Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.95%. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

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.