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

Teacher Retirement System of Texas grew its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 53.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,981 shares of the financial services provider’s stock after acquiring an additional 3,146 shares during the period. Teacher Retirement System of Texas owned about 0.05% of Piper Sandler Companies worth $2,694,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its holdings in Piper Sandler Companies by 0.3% during the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after purchasing an additional 2,137 shares during the period. FMR LLC raised its holdings in shares of Piper Sandler Companies by 49.0% in 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 in the last quarter. Geode Capital Management LLC lifted its stake 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 worth $107,184,000 after acquiring an additional 7,344 shares during the period. Stephens Investment Management Group LLC grew its holdings in Piper Sandler Companies by 3.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock worth $64,355,000 after acquiring an additional 6,970 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 valued at $58,245,000 after purchasing an additional 2,689 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $268.70 on Wednesday. The company’s 50-day simple moving average is $267.95 and its 200-day simple moving average is $291.67. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The stock has a market capitalization of $4.76 billion, a P/E ratio of 26.29 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate 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 earned $4.03 earnings per share. On average, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies 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.