Illinois Municipal Retirement Fund Sells 183 Shares of Piper Sandler Companies (NYSE:PIPR)

Illinois Municipal Retirement Fund reduced its position in Piper Sandler Companies (NYSE:PIPR) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,483 shares of the financial services provider’s stock after selling 183 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Piper Sandler Companies were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PIPR. GAMMA Investing LLC bought a new position in shares of Piper Sandler Companies during the fourth quarter worth $29,000. Parallel Advisors LLC boosted its position in shares of Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 64 shares during the last quarter. West Oak Capital LLC bought a new position in shares of Piper Sandler Companies during the fourth quarter worth $33,000. Mather Group LLC. bought a new position in shares of Piper Sandler Companies during the first quarter worth $64,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Piper Sandler Companies by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 80 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

Piper Sandler Companies Stock Performance

PIPR stock traded up $2.71 during trading on Friday, hitting $242.91. 179,200 shares of the company’s stock traded hands, compared to its average volume of 124,425. Piper Sandler Companies has a 52 week low of $130.89 and a 52 week high of $246.13. The business has a fifty day simple moving average of $221.37 and a 200 day simple moving average of $209.73. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 41.31 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The business had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. During the same quarter last year, the business earned $2.35 earnings per share. Piper Sandler Companies’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts forecast that Piper Sandler Companies will post 11.82 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Insider Activity

In other news, General Counsel John W. Geelan sold 1,570 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $211.14, for a total value of $331,489.80. Following the sale, the general counsel now owns 16,854 shares of the company’s stock, valued at $3,558,553.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, President Debbra L. Schoneman sold 1,022 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $213.27, for a total value of $217,961.94. Following the completion of the sale, the president now directly owns 43,083 shares in the company, valued at approximately $9,188,311.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John W. Geelan sold 1,570 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the completion of the sale, the general counsel now directly owns 16,854 shares of the company’s stock, valued at approximately $3,558,553.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,570 shares of company stock valued at $1,393,941. 3.00% of the stock is currently owned by company insiders.

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.