Morse Asset Management Inc Increases Position in Piper Sandler Companies (NYSE:PIPR)

Morse Asset Management Inc grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 74.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,790 shares of the financial services provider’s stock after purchasing an additional 765 shares during the period. Morse Asset Management Inc’s holdings in Piper Sandler Companies were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PIPR. TFO Wealth Partners LLC increased its position in Piper Sandler Companies by 172,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock valued at $302,000 after buying an additional 1,725 shares in the last quarter. 1492 Capital Management LLC increased its holdings in shares of Piper Sandler Companies by 1.1% during the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 68 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Piper Sandler Companies by 1.9% in the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after purchasing an additional 610 shares during the last quarter. Vanguard Group Inc. boosted its stake in Piper Sandler Companies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock worth $341,051,000 after purchasing an additional 15,075 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in Piper Sandler Companies by 40.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock valued at $1,030,000 after purchasing an additional 1,689 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Trading Up 1.1 %

Piper Sandler Companies stock opened at $286.99 on Monday. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $287.90. The business has a fifty day simple moving average of $268.21. The company 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 EPS for the quarter, topping the consensus estimate of $2.26 by $0.26. The company 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%. Piper Sandler Companies’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. On average, research analysts expect that Piper Sandler Companies will post 11.53 earnings per share 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 issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.91%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 a total of 16,276 shares of company stock worth $3,936,252 over the last quarter. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.