Park Avenue Securities LLC Sells 154 Shares of Piper Sandler Companies (NYSE:PIPR)

Park Avenue Securities LLC decreased its stake in Piper Sandler Companies (NYSE:PIPRGet Rating) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing 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.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its holdings in shares of Piper Sandler Companies by 7.1% during the 2nd quarter. Assetmark Inc. now owns 15,036 shares of the company’s stock valued at $1,704,000 after acquiring an additional 1,003 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Piper Sandler Companies by 19.3% during the second quarter. Mackenzie Financial Corp now owns 2,292 shares of the company’s stock valued at $260,000 after purchasing an additional 370 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Piper Sandler Companies by 20.2% during the second quarter. Renaissance Technologies LLC now owns 170,495 shares of the company’s stock worth $19,327,000 after purchasing an additional 28,700 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Piper Sandler Companies by 2.0% in the second quarter. Maryland State Retirement & Pension System now owns 5,767 shares of the company’s stock valued at $654,000 after buying an additional 113 shares during the period. Finally, Coho Partners Ltd. bought a new position in Piper Sandler Companies in the 2nd quarter valued at approximately $343,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jonathan J. Doyle sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 247,870 shares of the company’s stock, valued at approximately $33,013,805.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Up 1.9 %

Shares of NYSE PIPR opened at $139.21 on Monday. The company’s 50 day moving average price is $139.32 and its 200-day moving average price is $125.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 1.31. Piper Sandler Companies has a 52-week low of $102.60 and a 52-week high of $168.65. The company has a market capitalization of $2.48 billion, a P/E ratio of 12.90 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPRGet Rating) last released its earnings results on Friday, October 28th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.24. Piper Sandler Companies had a net margin of 11.03% and a return on equity of 23.87%. The business 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 business earned $4.55 earnings per share. Piper Sandler Companies’s revenue for the quarter was down 25.5% on a year-over-year basis. Equities analysts forecast that Piper Sandler Companies will post 10.13 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Wednesday, November 23rd were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, November 22nd. This represents a $2.40 annualized dividend and a yield of 1.72%. Piper Sandler Companies’s dividend payout ratio is currently 22.24%.

About Piper Sandler Companies

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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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