Westwood Holdings Group Inc. Has $85.96 Million Stake in Piper Sandler Companies (NYSE:PIPR)

Westwood Holdings Group Inc. trimmed its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,475 shares of the financial services provider’s stock after selling 56,230 shares during the quarter. Westwood Holdings Group Inc. owned about 2.11% of Piper Sandler Companies worth $85,963,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Parallel Advisors LLC lifted its holdings in 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 during the period. nVerses Capital LLC increased its holdings in Piper Sandler Companies by 100.0% in 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 in the last quarter. Mather Group LLC. bought a new position in Piper Sandler Companies in the first 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 in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Up 1.1 %

Piper Sandler Companies stock opened at $286.99 on Friday. The firm has a fifty day simple moving average of $268.21 and a two-hundred day simple moving average of $251.63. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $287.90. The company has a market capitalization of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping 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 the consensus estimate of $338.90 million. During the same quarter in the prior year, the business posted $1.13 EPS. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.91%. 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 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 owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $4,840,556.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following 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 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Company 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.