Vanguard Group Inc. Grows Stake in Piper Sandler Companies (NYSE:PIPR)

Vanguard Group Inc. raised its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,950,310 shares of the financial services provider’s stock after purchasing an additional 15,075 shares during the period. Vanguard Group Inc. owned 11.03% of Piper Sandler Companies worth $341,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PIPR. GAMMA Investing LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter valued at approximately $29,000. Parallel Advisors LLC raised its stake in shares of Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 64 shares during the period. West Oak Capital LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter worth about $33,000. Quadrant Capital Group LLC grew its holdings in Piper Sandler Companies by 21.1% during the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 80 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Piper Sandler Companies in the 4th quarter worth about $218,000. 72.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Piper Sandler Companies Price Performance

PIPR stock opened at $230.17 on Friday. Piper Sandler Companies has a 12 month low of $124.46 and a 12 month high of $231.50. The firm’s 50-day moving average is $211.37 and its 200 day moving average is $204.40. The company has a market capitalization of $4.07 billion, a PE ratio of 39.14 and a beta of 1.38.

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

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is 40.82%.

Wall Street Analyst Weigh In

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

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.