Nkcfo LLC Takes Position in Piper Sandler Companies (NYSE:PIPR)

Nkcfo LLC bought a new position in Piper Sandler Companies (NYSE:PIPR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,100 shares of the financial services provider’s stock, valued at approximately $714,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Piper Sandler Companies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after acquiring an additional 20,891 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 during the last quarter. Franklin Resources Inc. increased its holdings 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 valued at $55,415,000 after purchasing an additional 5,089 shares during the period. Lord Abbett & CO. LLC raised its position in Piper Sandler Companies by 7.4% during the 1st 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 during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Piper Sandler Companies by 37.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after buying an additional 59,915 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Transactions at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly 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 accessible through this link. In related news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock valued at $3,936,252 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $286.99 on Friday. Piper Sandler Companies has a one year low of $130.89 and a one year high of $287.90. The stock’s 50-day moving average is $268.21 and its 200 day moving average is $251.63. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $1.13 EPS. On average, sell-side analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is 44.22%.

Analysts Set New Price Targets

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

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.