Fisher Asset Management LLC Reduces Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Fisher Asset Management LLC lowered its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 12.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 102,449 shares of the financial services provider’s stock after selling 15,193 shares during the quarter. Fisher Asset Management LLC’s holdings in Piper Sandler Companies were worth $17,915,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Piper Sandler Companies during the 4th quarter worth about $29,000. West Oak Capital LLC acquired a new stake in Piper Sandler Companies in the 4th quarter worth about $33,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Piper Sandler Companies in the 3rd quarter valued at about $201,000. Obermeyer Wood Investment Counsel Lllp acquired a new position in shares of Piper Sandler Companies during the 3rd quarter valued at about $213,000. Finally, V Wealth Advisors LLC purchased a new position in shares of Piper Sandler Companies during the 3rd quarter worth about $218,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Transactions at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 11,307 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 approximately $4,345,220.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of the business’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 owns 24,116 shares in the company, valued at approximately $4,345,220.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Debbra L. Schoneman sold 205 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $190.05, for a total value of $38,960.25. Following the sale, the president now owns 16,935 shares of the company’s stock, valued at $3,218,496.75. The disclosure for this sale can be found here. Insiders sold 21,875 shares of company stock valued at $4,009,781 over the last quarter. Company insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

PIPR has been the subject of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th. StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

Piper Sandler Companies Stock Performance

PIPR opened at $206.14 on Monday. Piper Sandler Companies has a 1 year low of $120.97 and a 1 year high of $207.06. The business’s 50 day simple moving average is $194.88. The firm has a market cap of $3.65 billion, a P/E ratio of 35.06 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The company had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. During the same quarter in the prior year, the business earned $2.35 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts expect that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, May 23rd. Piper Sandler Companies’s payout ratio is 40.82%.

Piper Sandler Companies Company 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.