Piper Sandler Companies (NYSE:PIPR) Shares Purchased by Morse Asset Management Inc

Morse Asset Management Inc increased its stake in Piper Sandler Companies (NYSE:PIPR) by 74.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,790 shares of the financial services provider’s stock after purchasing an additional 765 shares during the period. Morse Asset Management Inc’s holdings in Piper Sandler Companies were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings 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 buying an additional 74 shares during the last quarter. Parallel Advisors LLC raised its stake 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 worth $29,000 after acquiring an additional 64 shares during the last quarter. nVerses Capital LLC raised its stake in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 100 shares during the last quarter. Mather Group LLC. acquired a new stake in Piper Sandler Companies during the 1st quarter worth about $64,000. Finally, Quadrant Capital Group LLC grew its stake in Piper Sandler Companies by 21.1% during the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $286.99 on Monday. The business has a fifty day simple moving average of $268.21. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $287.90. The firm has a market capitalization of $5.08 billion, a price-to-earnings 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 EPS for the quarter, beating the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 earnings per share. Equities research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

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

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, 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 sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction dated 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 owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

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.