Mackenzie Financial Corp Sells 1,570 Shares of Piper Sandler Companies (NYSE:PIPR)

Mackenzie Financial Corp trimmed its position in Piper Sandler Companies (NYSE:PIPR) by 59.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,087 shares of the financial services provider’s stock after selling 1,570 shares during the quarter. Mackenzie Financial Corp’s holdings in Piper Sandler Companies were worth $250,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Mairs & Power Inc. increased its stake in Piper Sandler Companies by 210.8% during the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock worth $21,526,000 after acquiring an additional 83,495 shares during the last quarter. Goldman Sachs Group Inc. increased its stake 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 worth $38,583,000 after acquiring an additional 59,915 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Piper Sandler Companies during the first quarter worth approximately $10,970,000. Mesirow Institutional Investment Management Inc. bought a new stake in Piper Sandler Companies during the second quarter worth approximately $10,139,000. Finally, Millennium Management LLC increased its stake in Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after acquiring an additional 30,942 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $286.84 on Tuesday. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $292.60. The business has a 50 day simple moving average of $275.02 and a two-hundred day simple moving average of $262.98. The firm has a market capitalization of $5.08 billion, a PE ratio of 48.78 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 (EPS) 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 analyst estimates of $338.90 million. During the same quarter in the previous year, the business earned $1.13 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal 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 issued a $0.65 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 0.91%. Piper Sandler Companies’s payout ratio is presently 44.22%.

Analyst Ratings Changes

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 related news, General Counsel John W. Geelan sold 1,789 shares of the business’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 value 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction 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 sale, the director now owns 18,341 shares in the company, valued at $4,840,556.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,276 shares of company stock worth $3,936,252. Company 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.