Creative Planning Raises Stake in Piper Sandler Companies (NYSE:PIPR)

Creative Planning increased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 34.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,287 shares of the financial services provider’s stock after purchasing an additional 2,399 shares during the period. Creative Planning owned 0.05% of Piper Sandler Companies worth $2,636,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Piper Sandler Companies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after purchasing an additional 20,891 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Piper Sandler Companies by 7.4% in the first quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after buying an additional 19,662 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Piper Sandler Companies by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after acquiring an additional 9,380 shares during the last quarter. Millennium Management LLC grew its stake in Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after acquiring an additional 30,942 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Piper Sandler Companies by 16.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider’s stock valued at $11,802,000 after acquiring an additional 8,510 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the transaction, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Philip Soran sold 1,792 shares of the 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 of the company’s stock, valued at $4,840,556.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock valued at $3,936,252 over the last ninety days. 3.00% of the stock is owned by insiders.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $280.53 on Friday. The stock has a 50 day moving average price of $289.47 and a 200-day moving average price of $273.40. Piper Sandler Companies has a one year low of $131.89 and a one year high of $306.10. The company has a market capitalization of $4.97 billion, a P/E ratio of 47.71 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. As a group, equities analysts predict that Piper Sandler Companies will post 11.53 EPS 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. Investors of record on Thursday, August 29th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend 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 (DPR) is currently 44.22%.

Analyst Ratings Changes

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

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.