State of New Jersey Common Pension Fund D Has $2.07 Million Holdings in Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D cut its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,294 shares of the financial services provider's stock after selling 1,673 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Piper Sandler Companies were worth $2,070,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its position in Piper Sandler Companies by 42.0% during the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the financial services provider's stock worth $439,000 after buying an additional 458 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Piper Sandler Companies during the 3rd quarter worth approximately $201,000. Harbor Capital Advisors Inc. raised its stake in Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock valued at $1,422,000 after acquiring an additional 56 shares during the period. US Bancorp DE lifted its holdings in Piper Sandler Companies by 6.7% during the 3rd quarter. US Bancorp DE now owns 7,503 shares of the financial services provider's stock valued at $2,130,000 after purchasing an additional 471 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in Piper Sandler Companies by 14.8% during the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider's stock worth $6,869,000 after purchasing an additional 3,124 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

PIPR traded up $4.72 during trading on Friday, hitting $336.11. The stock had a trading volume of 82,800 shares, compared to its average volume of 108,663. The company has a 50 day moving average price of $306.39 and a 200-day moving average price of $284.69. Piper Sandler Companies has a one year low of $150.30 and a one year high of $347.15. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 35.91 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The company had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is currently 27.78%.

Insider Transactions at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 8.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PIPR shares. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Monday, October 28th.

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.