Commonwealth Equity Services LLC Buys 54 Shares of Piper Sandler Companies (NYSE:PIPR)

Commonwealth Equity Services LLC grew its stake in Piper Sandler Companies (NYSE:PIPR) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,340 shares of the financial services provider’s stock after buying an additional 54 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Piper Sandler Companies were worth $539,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in Piper Sandler Companies during the 2nd quarter worth about $1,512,000. BOS Asset Management LLC acquired a new stake in Piper Sandler Companies in the 2nd quarter valued at approximately $206,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Piper Sandler Companies by 2.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 56,837 shares of the financial services provider’s stock valued at $13,082,000 after acquiring an additional 1,491 shares in the last quarter. Legato Capital Management LLC bought a new stake in Piper Sandler Companies in the 2nd quarter valued at approximately $757,000. Finally, Bank of New York Mellon Corp boosted its position in Piper Sandler Companies by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after acquiring an additional 9,380 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $286.99 on Friday. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $287.90. The company has a market cap of $5.08 billion, a P/E ratio of 48.81 and a beta of 1.39. The stock’s 50-day simple moving average is $268.21 and its 200 day simple moving average is $251.63.

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

Piper Sandler Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a $0.65 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.91%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 44.22%.

Insider Activity

In other news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction dated 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 directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction 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 1,789 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock valued at $3,936,252 in the last quarter. Company insiders own 3.00% of the company’s stock.

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.