Piper Sandler Companies (NYSE:PIPR) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. reduced its stake in Piper Sandler Companies (NYSE:PIPR) by 13.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 373,475 shares of the financial services provider’s stock after selling 56,230 shares during the quarter. Westwood Holdings Group Inc. owned 2.11% of Piper Sandler Companies worth $85,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PIPR. Blue Trust Inc. raised its position in Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Parallel Advisors LLC grew 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 buying an additional 64 shares in the last quarter. nVerses Capital LLC increased its stake 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 worth $46,000 after purchasing an additional 100 shares during the period. Mather Group LLC. purchased a new stake in Piper Sandler Companies during the 1st quarter worth approximately $64,000. Finally, Quadrant Capital Group LLC increased its position in shares of Piper Sandler Companies by 21.1% during 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. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $286.99 on Friday. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $287.90. The stock has a market cap of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39. The stock’s fifty day moving average is $268.21 and its two-hundred day moving average is $251.63.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) 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 the consensus estimate of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

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

Insiders Place Their Bets

In other 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Philip Soran sold 1,792 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now 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 this link. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction on 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 transaction, the general counsel now directly owns 15,065 shares in the company, valued at $3,867,637.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.