Nkcfo LLC Acquires New Position in Piper Sandler Companies (NYSE:PIPR)

Nkcfo LLC bought a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,100 shares of the financial services provider’s stock, valued at approximately $714,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. Sei Investments Co. boosted its stake in Piper Sandler Companies by 101.2% in the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock worth $10,282,000 after buying an additional 22,471 shares during the last quarter. King Luther Capital Management Corp grew its holdings in Piper Sandler Companies by 6.0% in the second quarter. King Luther Capital Management Corp now owns 18,410 shares of the financial services provider’s stock valued at $4,237,000 after purchasing an additional 1,040 shares during the period. Intech Investment Management LLC acquired a new position in Piper Sandler Companies during the second quarter worth approximately $1,236,000. Hsbc Holdings PLC grew its stake in shares of Piper Sandler Companies by 12.2% during the 2nd quarter. Hsbc Holdings PLC now owns 3,338 shares of the financial services provider’s stock valued at $760,000 after buying an additional 363 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in Piper Sandler Companies by 5.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,317 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 67 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Trading Up 1.1 %

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

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $338.90 million. During the same period last year, the company posted $1.13 earnings per share. The firm’s revenue was up 23.7% compared to the same quarter last year. Equities research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.91%. Piper Sandler Companies’s payout ratio is 44.22%.

Insiders Place Their Bets

In other news, Director Philip Soran sold 1,792 shares of the company’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 completion of the transaction, the director now directly owns 18,341 shares in the company, valued at $4,840,556.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 in the last 90 days. 3.00% of the stock is owned by company 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.