Strs Ohio bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the financial services provider’s stock, valued at approximately $1,238,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Piper Sandler Companies by 28.6% during the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 48 shares in the last quarter. M&T Bank Corp lifted its position in Piper Sandler Companies by 6.6% during the first quarter. M&T Bank Corp now owns 874 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 54 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Piper Sandler Companies by 46.6% during the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 54 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Piper Sandler Companies by 131.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Finally, Xponance Inc. raised its holdings in Piper Sandler Companies by 5.2% during the first quarter. Xponance Inc. now owns 1,305 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 64 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
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Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Wolfe Research raised Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price target on the stock in a report on Thursday, July 10th. Wall Street Zen cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Piper Sandler Companies currently has a consensus rating of “Hold” and an average target price of $312.50.
Read Our Latest Analysis on PIPR
Insider Buying and Selling at Piper Sandler Companies
In related news, CEO Chad R. Abraham sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $319.33, for a total value of $3,193,300.00. Following the completion of the transaction, the chief executive officer owned 53,558 shares of the company’s stock, valued at $17,102,676.14. The trade was a 15.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan J. Doyle sold 3,536 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $316.84, for a total transaction of $1,120,346.24. Following the completion of the transaction, the insider directly owned 132,910 shares of the company’s stock, valued at $42,111,204.40. This trade represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,136 shares of company stock worth $8,380,342. 2.70% of the stock is currently owned by corporate insiders.
Piper Sandler Companies Stock Up 2.8%
Shares of NYSE PIPR opened at $354.86 on Thursday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 29.95 and a beta of 1.45. The company has a 50 day moving average price of $325.13. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $360.00.
Piper Sandler Companies (NYSE:PIPR – Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.96. The firm had revenue of $405.39 million during the quarter, compared to analyst estimates of $349.40 million. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.Piper Sandler Companies’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.52 earnings per share. Equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.
Piper Sandler Companies Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, August 29th. Piper Sandler Companies’s payout ratio is presently 23.63%.
Piper Sandler Companies Company Profile
(Free Report)
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.
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