Piper Sandler Companies (NYSE:PIPR) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in Piper Sandler Companies (NYSE:PIPR) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew 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 grew its position 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 valued at $29,000 after buying an additional 64 shares in the last quarter. Mather Group LLC. acquired a new position in Piper Sandler Companies during the 1st quarter valued at about $64,000. FSC Wealth Advisors LLC raised its position in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after buying an additional 97 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Piper Sandler Companies in the 1st quarter worth approximately $90,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Up 1.1 %

Shares of PIPR stock opened at $286.99 on Friday. The stock has a 50-day simple moving average of $268.21 and a 200 day simple moving average of $251.63. The stock has a market capitalization of $5.08 billion, a P/E ratio of 48.81 and a beta of 1.39. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $287.90.

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

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a $0.65 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend 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 is currently 44.22%.

Insider Activity

In other news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction 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 SEC, which is accessible through this hyperlink. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction 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 $3,867,637.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,276 shares of company stock worth $3,936,252. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

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

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.