Illinois Municipal Retirement Fund Has $2.68 Million Stake in Piper Sandler Companies (NYSE:PIPR)

Illinois Municipal Retirement Fund lifted its stake in Piper Sandler Companies (NYSE:PIPR) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,935 shares of the financial services provider’s stock after purchasing an additional 320 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Piper Sandler Companies worth $2,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after buying an additional 2,137 shares during the last quarter. FMR LLC lifted its stake in shares of Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after acquiring an additional 205,584 shares during the period. Geode Capital Management LLC boosted its holdings in Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares during the last quarter. Stephens Investment Management Group LLC increased its position in Piper Sandler Companies by 3.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock worth $64,355,000 after purchasing an additional 6,970 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 0.7 %

NYSE:PIPR opened at $281.29 on Friday. Piper Sandler Companies has a 1-year low of $183.57 and a 1-year high of $351.80. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 27.52 and a beta of 1.46. The business’s 50-day moving average price is $303.87 and its two-hundred day moving average price is $310.30.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly 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 net margin of 11.87% and a return on equity of 17.00%. During the same period in the prior year, the business posted $4.03 EPS. Sell-side analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. Piper Sandler Companies’s dividend payout ratio is 25.44%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PIPR. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group raised their price objective on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. 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.