Raymond James & Associates Sells 236 Shares of Piper Sandler Companies (NYSE:PIPR)

Raymond James & Associates trimmed its stake in Piper Sandler Companies (NYSE:PIPR) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,956 shares of the financial services provider’s stock after selling 236 shares during the period. Raymond James & Associates owned approximately 0.16% of Piper Sandler Companies worth $4,889,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PIPR. North Reef Capital Management LP increased its position in shares of Piper Sandler Companies by 143.5% in the third quarter. North Reef Capital Management LP now owns 245,000 shares of the financial services provider’s stock worth $35,601,000 after purchasing an additional 144,369 shares during the last quarter. Norges Bank bought a new position in shares of Piper Sandler Companies in the fourth quarter worth approximately $18,683,000. Balyasny Asset Management L.P. boosted its stake in Piper Sandler Companies by 224.7% in the first quarter. Balyasny Asset Management L.P. now owns 155,544 shares of the financial services provider’s stock worth $21,560,000 after buying an additional 107,640 shares in the last quarter. FMR LLC boosted its stake in Piper Sandler Companies by 2,650.0% in the first quarter. FMR LLC now owns 109,560 shares of the financial services provider’s stock worth $15,186,000 after buying an additional 105,576 shares in the last quarter. Finally, Comerica Bank purchased a new stake in Piper Sandler Companies in the second quarter worth approximately $6,784,000. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

NYSE:PIPR 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. Piper Sandler Companies has a fifty-two week low of $120.97 and a fifty-two week high of $202.76. The business has a 50 day moving average price of $195.09 and a 200-day moving average price of $184.54.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $1.42. The firm had revenue of $457.39 million during the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.33 earnings per share. Research analysts predict that Piper Sandler Companies will post 11.17 EPS for the current year.

Piper Sandler Companies Dividend Announcement

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

Analyst Ratings Changes

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

Insider Activity at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 2,013 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $179.79, for a total transaction of $361,917.27. Following the completion of the transaction, the insider now owns 166,214 shares in the company, valued at $29,883,615.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the completion of the transaction, the president now owns 12,140 shares in the company, valued at $2,315,340.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan J. Doyle sold 2,013 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $179.79, for a total value of $361,917.27. Following the completion of the transaction, the insider now owns 166,214 shares of the company’s stock, valued at approximately $29,883,615.06. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock worth $9,838,711 over the last quarter. 3.30% of the stock is owned by corporate insiders.

About Piper Sandler Companies

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.