Renaissance Technologies LLC Raises Position in Piper Sandler Companies (NYSE:PIPR)

Renaissance Technologies LLC raised its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 21.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,695 shares of the financial services provider’s stock after acquiring an additional 8,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.26% of Piper Sandler Companies worth $10,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. TFO Wealth Partners LLC boosted its stake in shares of Piper Sandler Companies by 172,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 1,725 shares during the last quarter. 1492 Capital Management LLC boosted its stake in shares of Piper Sandler Companies by 1.1% during the 4th quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 68 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Piper Sandler Companies by 1.9% during the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after acquiring an additional 610 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock valued at $341,051,000 after purchasing an additional 15,075 shares during the period. Finally, Oliver Luxxe Assets LLC raised its position in shares of Piper Sandler Companies by 40.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock valued at $1,030,000 after purchasing an additional 1,689 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares in the company, valued at approximately $3,867,637.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value 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 SEC, which is accessible through this link. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction dated 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 owns 15,065 shares in the company, valued at $3,867,637.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,276 shares of company stock worth $3,936,252. Insiders own 3.00% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $287.51 on Tuesday. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 48.90 and a beta of 1.39. Piper Sandler Companies has a one year low of $130.89 and a one year high of $289.02. The company’s fifty day moving average price is $268.93 and its 200-day moving average price is $253.43.

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 company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. Piper Sandler Companies’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. Equities 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 declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a $0.65 dividend. This is an increase 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 0.90%. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s payout ratio is currently 44.22%.

Wall Street Analysts Forecast Growth

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

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.