Teacher Retirement System of Texas Has $6.45 Million Stake in Piper Sandler Companies $PIPR

Teacher Retirement System of Texas reduced its stake in Piper Sandler Companies (NYSE:PIPR) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,216 shares of the financial services provider’s stock after selling 1,693 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.13% of Piper Sandler Companies worth $6,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Piper Sandler Companies by 58.8% during the first quarter. GAMMA Investing LLC now owns 440 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 163 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Piper Sandler Companies in the first quarter worth $215,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Piper Sandler Companies by 42.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,114 shares of the financial services provider’s stock worth $10,091,000 after buying an additional 11,984 shares during the period. Principal Financial Group Inc. grew its stake in Piper Sandler Companies by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 80,487 shares of the financial services provider’s stock valued at $19,933,000 after buying an additional 2,981 shares during the last quarter. Finally, von Borstel & Associates Inc. bought a new position in Piper Sandler Companies in the 1st quarter worth $27,000. Institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Wolfe Research upgraded Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 target price for the company in a research note on Thursday, July 10th. Finally, Zacks Research lowered Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $312.50.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 3,536 shares of Piper Sandler Companies stock in a transaction on Monday, August 4th. The shares were sold at an average price of $316.84, for a total transaction of $1,120,346.24. Following the sale, the insider owned 132,910 shares in the company, valued at $42,111,204.40. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John W. Geelan sold 2,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $322.69, for a total transaction of $645,380.00. Following the completion of the sale, the general counsel directly owned 12,645 shares in the company, valued at $4,080,415.05. This trade represents a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,136 shares of company stock worth $8,380,342 over the last quarter. 2.70% of the stock is owned by company insiders.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $327.31 on Friday. The company’s 50-day moving average is $341.09. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $374.77. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 27.62 and a beta of 1.45.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.96. The business had revenue of $405.39 million for the quarter, compared to the consensus estimate of $349.40 million. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $2.52 earnings per share. Equities research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

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.