Public Employees Retirement System of Ohio Grows Stake in Piper Sandler Companies $PIPR

Public Employees Retirement System of Ohio increased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 27.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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’s holdings in Piper Sandler Companies were worth $3,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake 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 buying an additional 2,967 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Piper Sandler Companies in the first quarter valued at approximately $1,535,000. Sterling Capital Management LLC lifted its position in shares of Piper Sandler Companies by 296.5% in the first quarter. Sterling Capital Management LLC now owns 452 shares of the company’s stock valued at $35,000 after acquiring an additional 338 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Piper Sandler Companies by 71.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company’s stock worth $118,000 after acquiring an additional 144 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Piper Sandler Companies by 16.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,202 shares of the company’s stock worth $408,000 after purchasing an additional 172 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Piper Sandler Companies Trading Down 0.9%

Shares of PIPR opened at $77.04 on Friday. Piper Sandler Companies has a 12-month low of $68.70 and a 12-month high of $95.07. The firm has a market capitalization of $5.44 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.80 and a beta of 1.40. The firm has a 50-day moving average price of $74.98 and a 200 day moving average price of $77.82.

Piper Sandler Companies (NYSE:PIPR) last posted its 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 company had revenue of $491.14 million for the quarter, compared to analyst estimates of $445.28 million. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. Piper Sandler Companies’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.92 EPS. Equities research analysts predict that Piper Sandler Companies will post 4.51 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Piper Sandler Companies Company Profile

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.