Goldman Sachs Group Inc. Has $38.58 Million Stake in Piper Sandler Companies (NYSE:PIPR)

Goldman Sachs Group Inc. boosted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 37.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,638 shares of the financial services provider’s stock after purchasing an additional 59,915 shares during the period. Goldman Sachs Group Inc. owned 1.25% of Piper Sandler Companies worth $38,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Reef Capital Management LP increased its stake in shares of Piper Sandler Companies by 143.5% in the 3rd quarter. North Reef Capital Management LP now owns 245,000 shares of the financial services provider’s stock valued at $35,601,000 after buying an additional 144,369 shares during the period. Norges Bank acquired a new stake in shares of Piper Sandler Companies in the 4th quarter valued at $21,023,000. Mairs & Power Inc. increased its stake in shares of Piper Sandler Companies by 210.8% in the 4th quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock valued at $21,526,000 after buying an additional 83,495 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Piper Sandler Companies by 48.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 54,466 shares of the financial services provider’s stock valued at $7,914,000 after buying an additional 17,869 shares during the period. Finally, Knights of Columbus Asset Advisors LLC increased its stake in shares of Piper Sandler Companies by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 32,574 shares of the financial services provider’s stock valued at $5,696,000 after buying an additional 15,833 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 1,022 shares of Piper Sandler Companies stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $213.27, for a total transaction of $217,961.94. Following the transaction, the president now directly owns 43,083 shares in the company, valued at $9,188,311.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,570 shares of Piper Sandler Companies stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $211.14, for a total transaction of $331,489.80. Following the transaction, the general counsel now directly owns 16,854 shares in the company, valued at $3,558,553.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Debbra L. Schoneman sold 1,022 shares of Piper Sandler Companies stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $213.27, for a total value of $217,961.94. Following the transaction, the president now owns 43,083 shares in the company, valued at $9,188,311.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,570 shares of company stock worth $1,393,941. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, June 11th. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th.

Piper Sandler Companies Stock Down 2.2 %

NYSE:PIPR opened at $210.78 on Friday. Piper Sandler Companies has a 12-month low of $124.46 and a 12-month high of $216.69. The firm has a market capitalization of $3.73 billion, a P/E ratio of 35.85 and a beta of 1.38. The stock’s fifty day simple moving average is $210.08 and its 200-day simple moving average is $202.44.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The business had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. During the same period last year, the company earned $2.35 EPS. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts expect that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

About Piper Sandler Companies

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.