Teacher Retirement System of Texas Acquires 3,146 Shares of Piper Sandler Companies (NYSE:PIPR)

Teacher Retirement System of Texas raised its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,981 shares of the financial services provider's stock after purchasing an additional 3,146 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Piper Sandler Companies worth $2,694,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc increased its stake in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after purchasing an additional 131 shares in the last quarter. West Oak Capital LLC grew its stake in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock valued at $45,000 after buying an additional 1,300 shares during the last quarter. Allworth Financial LP increased its position in Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock worth $70,000 after buying an additional 160 shares during the period. GAMMA Investing LLC grew its position in Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after purchasing an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock worth $94,000 after acquiring an additional 242 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock traded down $6.73 during trading hours on Friday, hitting $247.06. The company had a trading volume of 132,200 shares, compared to its average volume of 112,009. The firm has a 50-day moving average of $262.84 and a 200 day moving average of $289.20. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The firm has a market cap of $4.38 billion, a PE ratio of 24.17 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating analysts' consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter in the prior year, the business posted $4.03 earnings per share. As a group, research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.05%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 25.44%.

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.