Dimensional Fund Advisors LP Reduces Holdings in Piper Sandler Companies (NYSE:PIPR)

Dimensional Fund Advisors LP reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,661 shares of the financial services provider’s stock after selling 8,660 shares during the period. Dimensional Fund Advisors LP owned 2.76% of Piper Sandler Companies worth $112,466,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 64 shares during the period. nVerses Capital LLC raised its stake in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares during the period. Mather Group LLC. purchased a new stake in shares of Piper Sandler Companies during the first quarter valued at approximately $64,000. Finally, FSC Wealth Advisors LLC raised its stake in shares of Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Up 0.2 %

PIPR stock opened at $287.51 on Tuesday. The company has a 50-day simple moving average of $268.93 and a 200 day simple moving average of $253.43. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $289.02. The company has a market capitalization of $5.09 billion, a P/E ratio of 48.90 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 earnings per share. Equities analysts anticipate that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.65 dividend. 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. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insider Buying and Selling 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 directly owns 18,341 shares in the company, valued at $4,840,556.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction 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 transaction, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction 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 completion of the sale, the general counsel now directly owns 15,065 shares in the company, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock worth $3,936,252 over the last ninety days. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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