American Century Companies Inc. Trims Holdings in Piper Sandler Companies (NYSE:PIPR)

American Century Companies Inc. decreased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 22.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,612 shares of the financial services provider’s stock after selling 3,950 shares during the period. American Century Companies Inc. owned 0.08% of Piper Sandler Companies worth $3,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. TFO Wealth Partners LLC raised its stake in Piper Sandler Companies by 172,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock worth $302,000 after buying an additional 1,725 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 acquiring an additional 610 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 valued at $341,051,000 after purchasing an additional 15,075 shares during the period. EntryPoint Capital LLC purchased a new stake in Piper Sandler Companies in the first quarter worth $90,000. Finally, Louisiana State Employees Retirement System raised its holdings in Piper Sandler Companies by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock worth $1,795,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Trading Down 1.1 %

Shares of NYSE:PIPR opened at $280.33 on Friday. The stock has a fifty day simple moving average of $271.23 and a two-hundred day simple moving average of $255.81. Piper Sandler Companies has a 12-month low of $130.89 and a 12-month high of $289.02. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 47.68 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations 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 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. As a group, equities research analysts predict that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $0.65 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s payout ratio is presently 44.22%.

Insider Buying and Selling at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction that occurred on 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 owns 15,065 shares in the company, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,276 shares of company stock worth $3,936,252. Insiders own 3.00% of the company’s stock.

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.