Allspring Global Investments Holdings LLC Sells 9,764 Shares of Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC lessened its holdings in Piper Sandler Companies (NYSE:PIPR) by 16.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 50,948 shares of the financial services provider’s stock after selling 9,764 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Piper Sandler Companies were worth $8,909,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in Piper Sandler Companies by 0.9% in the third quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock worth $1,130,000 after purchasing an additional 70 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Piper Sandler Companies by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 6,956 shares of the financial services provider’s stock worth $899,000 after purchasing an additional 78 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in Piper Sandler Companies by 8.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,093 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 83 shares in the last quarter. Captrust Financial Advisors raised its position in Piper Sandler Companies by 3.7% in the fourth quarter. Captrust Financial Advisors now owns 2,366 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 84 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in Piper Sandler Companies by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 1,434 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PIPR shares. Northland Securities lowered shares of Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group raised their price objective on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $4,345,220.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Chad R. Abraham sold 11,307 shares of Piper Sandler Companies stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the transaction, the chief executive officer now directly owns 24,116 shares of the company’s stock, valued at $4,345,220.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the transaction, the president now directly owns 12,140 shares in the company, valued at $2,315,340.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,524 shares of company stock valued at $9,838,711. 3.30% of the stock is currently owned by insiders.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $185.58 on Wednesday. The firm has a market cap of $3.28 billion, a P/E ratio of 37.57 and a beta of 1.42. The firm has a 50 day simple moving average of $194.75 and a 200 day simple moving average of $185.78. Piper Sandler Companies has a fifty-two week low of $120.97 and a fifty-two week high of $202.76.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results 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 business had revenue of $457.39 million during the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. Piper Sandler Companies’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 earnings per share. On average, sell-side analysts expect that Piper Sandler Companies will post 11.17 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.29%. Piper Sandler Companies’s payout ratio is presently 48.58%.

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.