5,372 Shares in Piper Sandler Companies (NYSE:PIPR) Purchased by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,372 shares of the financial services provider’s stock, valued at approximately $1,236,000.

Several other institutional investors have also modified their holdings of PIPR. Commonwealth Equity Services LLC boosted its stake in shares of Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 54 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of Piper Sandler Companies by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 62 shares during the period. Parallel Advisors LLC boosted its position in shares of Piper Sandler Companies by 62.1% during 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. Mercer Global Advisors Inc. ADV grew its stake in shares of Piper Sandler Companies by 5.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,317 shares of the financial services provider’s stock valued at $303,000 after buying an additional 67 shares during the last quarter. Finally, 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 period. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $286.98 on Wednesday. The company has a market capitalization of $5.08 billion, a P/E ratio of 48.81 and a beta of 1.39. The company’s 50-day simple moving average is $269.88 and its two-hundred day simple moving average is $253.90. Piper Sandler Companies has a one year low of $130.89 and a one year high of $289.02.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS 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 period last year, the business posted $1.13 EPS. Piper Sandler Companies’s quarterly revenue was up 23.7% on a year-over-year basis. On average, research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.65 dividend. The ex-dividend date was Thursday, August 29th. This is a positive change 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 is 44.22%.

Insiders Place Their Bets

In other news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the transaction, the general counsel now owns 15,065 shares in the company, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Insiders have sold a total of 16,276 shares of company stock worth $3,936,252 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

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