State of New Jersey Common Pension Fund D Sells 843 Shares of Piper Sandler Companies (NYSE:PIPR)

State of New Jersey Common Pension Fund D lessened its holdings in Piper Sandler Companies (NYSE:PIPR) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,451 shares of the financial services provider’s stock after selling 843 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Piper Sandler Companies were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of Piper Sandler Companies by 5.3% during the third quarter. Raymond James & Associates now owns 29,325 shares of the financial services provider’s stock worth $8,323,000 after purchasing an additional 1,484 shares during the period. US Bancorp DE grew its holdings in Piper Sandler Companies by 6.7% in the 3rd quarter. US Bancorp DE now owns 7,503 shares of the financial services provider’s stock valued at $2,130,000 after buying an additional 471 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Piper Sandler Companies by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 56 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Piper Sandler Companies during the third quarter worth $201,000. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Piper Sandler Companies by 42.0% in the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 458 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $280.05 on Tuesday. Piper Sandler Companies has a 52-week low of $183.25 and a 52-week high of $351.80. The company has a market capitalization of $4.98 billion, a PE ratio of 27.40 and a beta of 1.46. The company has a fifty day moving average of $307.16 and a 200-day moving average of $312.30.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same quarter last year, the business posted $4.03 EPS. On average, equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PIPR shares. The Goldman Sachs Group raised their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

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.