TD Asset Management Inc Takes $483,000 Position in Piper Sandler Companies (NYSE:PIPR)

TD Asset Management Inc acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,100 shares of the financial services provider’s stock, valued at approximately $483,000.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock valued at $391,264,000 after buying an additional 20,891 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Piper Sandler Companies by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,340 shares of the financial services provider’s stock worth $88,546,000 after purchasing an additional 5,851 shares in the last quarter. Franklin Resources Inc. raised its position in Piper Sandler Companies by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 316,893 shares of the financial services provider’s stock worth $55,415,000 after purchasing an additional 5,089 shares in the last quarter. Lord Abbett & CO. LLC raised its position in 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 purchasing an additional 19,662 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Piper Sandler Companies by 37.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after purchasing an additional 59,915 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insiders Place Their Bets

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 $4,840,556.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is currently owned by insiders.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $267.64 on Monday. The company has a market capitalization of $4.74 billion, a PE ratio of 45.52 and a beta of 1.39. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $280.45. The business’s 50-day moving average price is $264.85.

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 for the quarter, topping the consensus estimate of $2.26 by $0.26. The firm had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. As a group, equities analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.97%. This is a boost 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 is currently 44.22%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

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.