Oppenheimer Asset Management Inc. Buys 1,204 Shares of Piper Sandler Companies (NYSE:PIPR)

Oppenheimer Asset Management Inc. increased its position in Piper Sandler Companies (NYSE:PIPR) by 18.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,688 shares of the financial services provider’s stock after acquiring an additional 1,204 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Piper Sandler Companies were worth $1,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PIPR. Blue Trust Inc. increased its stake in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. Parallel Advisors LLC increased its stake in Piper Sandler Companies by 62.1% in the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares in the last quarter. nVerses Capital LLC raised its holdings in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares during the period. Mather Group LLC. purchased a new position in shares of Piper Sandler Companies in the first quarter valued at about $64,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Piper Sandler Companies by 21.1% in 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 period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $275.37 on Thursday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 46.83 and a beta of 1.40. The firm has a fifty day moving average price of $266.80 and a 200 day moving average price of $249.41. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $282.75.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. As a group, research analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.94%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is 44.22%.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is currently owned by insiders.

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.