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

State of New Jersey Common Pension Fund D trimmed its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PIPR. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 74 shares during the period. nVerses Capital LLC grew its position in shares of Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after buying an additional 100 shares during the period. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies in the 3rd quarter valued at about $77,000. FSC Wealth Advisors LLC increased its stake in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 97 shares during the last quarter. Finally, CWM LLC raised its position in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after acquiring an additional 57 shares during the period. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Trading Up 1.4 %

Shares of NYSE:PIPR traded up $4.72 during trading on Friday, hitting $336.11. 82,800 shares of the company's stock traded hands, 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 52 week low of $150.30 and a 52 week high of $347.15. The company 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 announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. On average, analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have commented on PIPR. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares of the company's stock, valued at $4,840,556.72. This represents a 8.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.00% of the company's stock.

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.