Illinois Municipal Retirement Fund Grows Stake in Piper Sandler Companies (NYSE:PIPR)

Illinois Municipal Retirement Fund boosted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,935 shares of the financial services provider’s stock after purchasing an additional 320 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of Piper Sandler Companies worth $2,680,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in shares of Piper Sandler Companies during the fourth quarter valued at approximately $523,000. IFP Advisors Inc increased its holdings 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 valued at $43,000 after acquiring an additional 131 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Piper Sandler Companies by 13.3% in the 4th quarter. Handelsbanken Fonder AB now owns 4,272 shares of the financial services provider’s stock valued at $1,281,000 after acquiring an additional 500 shares during the last quarter. Private Wealth Partners LLC purchased a new stake in Piper Sandler Companies in the 4th quarter worth $664,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Piper Sandler Companies during the 4th quarter valued at about $3,293,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 0.7 %

Piper Sandler Companies stock opened at $281.29 on Friday. The company’s 50-day moving average price is $303.87 and its 200-day moving average price is $310.30. The company has a market cap of $5.00 billion, a PE ratio of 27.52 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $183.57 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate 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 previous year, the company earned $4.03 EPS. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.92%. Piper Sandler Companies’s payout ratio is presently 25.44%.

Analyst Upgrades and Downgrades

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

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.