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

Raymond James & Associates lessened its stake in Piper Sandler Companies (NYSE:PIPR) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,956 shares of the financial services provider’s stock after selling 236 shares during the quarter. Raymond James & Associates owned approximately 0.16% of Piper Sandler Companies worth $4,889,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PIPR. Charles Schwab Investment Management Inc. grew its position in shares of Piper Sandler Companies by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider’s stock valued at $26,251,000 after buying an additional 11,847 shares during the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at about $26,000. Allspring Global Investments Holdings LLC grew its position in shares of Piper Sandler Companies by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock valued at $8,822,000 after buying an additional 615 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Piper Sandler Companies by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock valued at $281,209,000 after buying an additional 9,030 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Piper Sandler Companies by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Transactions at Piper Sandler Companies

In other news, CEO Chad R. Abraham sold 6,662 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the transaction, the chief executive officer now owns 36,454 shares in the company, valued at approximately $6,745,083.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total value of $2,037,295.26. Following the transaction, the chief executive officer now directly owns 24,116 shares in the company, valued at approximately $4,345,220.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Abraham sold 6,662 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the completion of the transaction, the chief executive officer now owns 36,454 shares in the company, valued at $6,745,083.62. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock worth $9,838,711 in the last 90 days. 3.30% of the stock is owned by insiders.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $193.05 on Thursday. The firm has a market cap of $3.41 billion, a PE ratio of 39.08 and a beta of 1.42. The firm’s 50 day moving average price is $195.09 and its two-hundred day moving average price is $184.54. Piper Sandler Companies has a twelve month low of $120.97 and a twelve month high of $202.76.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 EPS for the quarter, topping the consensus estimate of $2.61 by $1.42. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The company had revenue of $457.39 million for the quarter, compared to analyst estimates of $370.12 million. During the same quarter in the prior year, the business posted $3.33 EPS. Piper Sandler Companies’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts anticipate that Piper Sandler Companies will post 11.17 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.24%. Piper Sandler Companies’s dividend payout ratio (DPR) is 48.58%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Northland Securities lowered shares of Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 19th. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price target on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th.

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.