Park Avenue Securities LLC Has $323,000 Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Park Avenue Securities LLC cut its holdings in shares of Piper Sandler Companies (NYSE:PIPRGet Rating) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,082 shares of the company’s stock after selling 154 shares during the period. Park Avenue Securities LLC’s holdings in Piper Sandler Companies were worth $323,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Piper Sandler Companies by 0.5% during the 1st quarter. BlackRock Inc. now owns 2,494,228 shares of the company’s stock worth $327,369,000 after buying an additional 11,450 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Piper Sandler Companies by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,778,203 shares of the company’s stock worth $233,389,000 after acquiring an additional 15,850 shares during the last quarter. State Street Corp boosted its stake in shares of Piper Sandler Companies by 1.4% in the 2nd quarter. State Street Corp now owns 552,396 shares of the company’s stock valued at $62,620,000 after purchasing an additional 7,435 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Piper Sandler Companies by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 485,318 shares of the company’s stock valued at $63,700,000 after purchasing an additional 1,895 shares during the last quarter. Finally, Invesco Ltd. increased its position in Piper Sandler Companies by 3.2% during the 1st quarter. Invesco Ltd. now owns 347,576 shares of the company’s stock worth $45,620,000 after purchasing an additional 10,771 shares in the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $139.21 on Monday. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.90 and a beta of 1.42. The company has a quick ratio of 0.70, a current ratio of 1.31 and a debt-to-equity ratio of 0.10. Piper Sandler Companies has a twelve month low of $102.60 and a twelve month high of $168.65. The stock has a fifty day simple moving average of $139.32 and a 200 day simple moving average of $125.43.

Piper Sandler Companies (NYSE:PIPRGet Rating) last released its quarterly earnings results on Friday, October 28th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.24. Piper Sandler Companies had a return on equity of 23.87% and a net margin of 11.03%. The firm had revenue of $331.75 million for the quarter, compared to analyst estimates of $321.60 million. During the same quarter in the previous year, the company posted $4.55 EPS. The business’s revenue was down 25.5% on a year-over-year basis. Sell-side analysts expect that Piper Sandler Companies will post 10.13 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Wednesday, November 23rd were given a $0.60 dividend. The ex-dividend date was Tuesday, November 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.72%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 22.24%.

Insider Activity

In related news, insider Jonathan J. Doyle sold 5,000 shares of Piper Sandler Companies stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $133.19, for a total transaction of $665,950.00. Following the completion of the transaction, the insider now owns 247,870 shares of the company’s stock, valued at $33,013,805.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.32% of the company’s stock.

Analyst Upgrades and Downgrades

PIPR has been the subject of several research analyst reports. Northland Securities upped their price target on shares of Piper Sandler Companies to $135.00 in a report on Tuesday, November 1st. StockNews.com started coverage on Piper Sandler Companies in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, JMP Securities reduced their price target on Piper Sandler Companies from $178.00 to $160.00 and set a “market outperform” rating on the stock in a report on Tuesday, January 10th.

Piper Sandler Companies Company Profile

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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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

Further Reading

Institutional Ownership by Quarter for Piper Sandler Companies (NYSE:PIPR)

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