Allspring Global Investments Holdings LLC Sells 8,372 Shares of Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC reduced its position in Piper Sandler Companies (NYSE:PIPR) by 15.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,263 shares of the financial services provider’s stock after selling 8,372 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.25% of Piper Sandler Companies worth $12,562,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the period. nVerses Capital LLC raised its position 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. USA Financial Formulas bought a new position in Piper Sandler Companies during the third quarter worth about $77,000. FSC Wealth Advisors LLC grew its stake in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares during the period. Finally, CWM LLC raised its holdings in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of the 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 sale, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction 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 transaction, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip Soran sold 1,792 shares of the business’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 sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is currently owned by corporate insiders.

Piper Sandler Companies Trading Down 3.1 %

Shares of Piper Sandler Companies stock opened at $280.53 on Friday. Piper Sandler Companies has a 1-year low of $131.89 and a 1-year high of $306.10. The firm’s 50-day moving average price is $289.47 and its two-hundred day moving average price is $273.22. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 47.71 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. As a group, equities research analysts predict that Piper Sandler Companies will post 11.53 EPS for the current 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 issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.93%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is currently 44.22%.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed 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.