Piper Sandler Companies (NYSE:PIPR) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its holdings in Piper Sandler Companies (NYSE:PIPR) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,325 shares of the financial services provider’s stock after acquiring an additional 1,484 shares during the period. Raymond James & Associates owned 0.17% of Piper Sandler Companies worth $8,323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares during the period. nVerses Capital LLC lifted its position in Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares during the last quarter. USA Financial Formulas purchased a new position in Piper Sandler Companies during the third quarter worth about $77,000. FSC Wealth Advisors LLC increased its position 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 acquiring an additional 97 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 0.2 %

Shares of PIPR stock opened at $288.73 on Wednesday. The firm has a 50 day moving average of $289.63 and a two-hundred day moving average of $274.06. The stock has a market capitalization of $5.11 billion, a PE ratio of 49.10 and a beta of 1.39. Piper Sandler Companies has a 52 week low of $134.82 and a 52 week high of $306.10.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. Piper Sandler Companies’s revenue was up 23.7% compared to the same quarter last year. During the same period last year, the business posted $1.13 earnings per share. Analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be 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 is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

Insiders Place Their Bets

In other news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies 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 completion of the sale, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip Soran sold 1,792 shares of the company’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 completion of the transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock worth $3,936,252 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note 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.