Piper Sandler Companies (NYSE:PIPR) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 21.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,695 shares of the financial services provider’s stock after purchasing an additional 8,300 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of Piper Sandler Companies worth $10,748,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Parallel Advisors LLC increased its holdings 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 increased its holdings 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. acquired a new position in shares of Piper Sandler Companies during the first quarter valued at $64,000. Finally, FSC Wealth Advisors LLC increased its holdings 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.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Up 0.2 %

Shares of PIPR stock opened at $287.51 on Tuesday. The stock 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 stock 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 announced its earnings results 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. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. During the same quarter last year, the business posted $1.13 earnings per share. The company’s quarterly revenue was up 23.7% on a year-over-year basis. On average, sell-side analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insiders Place Their Bets

In other news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

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.