King Luther Capital Management Corp Has $4.24 Million Position in Piper Sandler Companies (NYSE:PIPR)

King Luther Capital Management Corp lifted its holdings in Piper Sandler Companies (NYSE:PIPR) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,410 shares of the financial services provider’s stock after buying an additional 1,040 shares during the period. King Luther Capital Management Corp owned about 0.10% of Piper Sandler Companies worth $4,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PIPR. Vanguard Group Inc. lifted 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 acquiring an additional 20,891 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of 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 boosted its holdings in shares of Piper Sandler Companies by 7.4% during 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 during the period. Goldman Sachs Group Inc. grew its position in Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock valued at $38,583,000 after purchasing an additional 59,915 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Piper Sandler Companies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock valued at $39,162,000 after buying an additional 9,380 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $286.99 on Friday. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $287.90. The stock’s 50-day moving average is $268.21 and its two-hundred day moving average is $252.27. The firm has a market cap of $5.08 billion, a P/E 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 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million for 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 firm’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 earnings per share. As a group, research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend yield of 0.91%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio (DPR) 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 note on Tuesday, September 17th.

Insider Activity at Piper Sandler Companies

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 shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the firm’s 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 sale, the general counsel now directly owns 15,065 shares in the company, valued at $3,867,637.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,276 shares of company stock valued at $3,936,252. Insiders own 3.00% of the company’s stock.

Piper Sandler Companies 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.