Public Employees Retirement System of Ohio Sells 1,672 Shares of Piper Sandler Companies (NYSE:PIPR)

Public Employees Retirement System of Ohio cut its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 11.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,063 shares of the financial services provider's stock after selling 1,672 shares during the period. Public Employees Retirement System of Ohio owned 0.07% of Piper Sandler Companies worth $3,707,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can grew its stake in Piper Sandler Companies by 2.1% during the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider's stock valued at $524,000 after acquiring an additional 46 shares in the last quarter. Xponance Inc. grew its position in shares of Piper Sandler Companies by 4.6% during the 2nd quarter. Xponance Inc. now owns 1,101 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 48 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider's stock worth $539,000 after purchasing an additional 54 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Piper Sandler Companies by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock valued at $1,422,000 after buying an additional 56 shares during the period. Finally, CWM LLC grew its position in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after buying an additional 57 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Up 0.7 %

Shares of PIPR traded up $2.38 during midday trading on Monday, reaching $321.34. The stock had a trading volume of 75,100 shares, compared to its average volume of 106,647. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 34.33 and a beta of 1.43. The company's 50-day moving average is $334.37 and its 200 day moving average is $305.04. Piper Sandler Companies has a 12-month low of $162.50 and a 12-month high of $351.80.

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

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PIPR. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com lowered shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 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.