Truist Financial Corp Buys 999 Shares of Piper Sandler Companies (NYSE:PIPR)

Truist Financial Corp raised its position in shares of Piper Sandler Companies (NYSE:PIPR) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,772 shares of the financial services provider’s stock after buying an additional 999 shares during the quarter. Truist Financial Corp’s holdings in Piper Sandler Companies were worth $4,856,000 at the end of the most recent quarter.

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

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $206.14 on Monday. Piper Sandler Companies has a fifty-two week low of $120.97 and a fifty-two week high of $207.06. The company has a market cap of $3.65 billion, a PE ratio of 35.06 and a beta of 1.40. The company has a 50-day simple moving average of $194.88.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, beating 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 business had revenue of $335.29 million for the quarter, compared to analysts’ expectations of $314.97 million. During the same quarter last year, the firm earned $2.35 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Piper Sandler Companies will post 11.82 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Insider Activity at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 2,013 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $179.79, for a total value of $361,917.27. Following the transaction, the insider now owns 166,214 shares of the company’s stock, valued at approximately $29,883,615.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 11,307 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 24,116 shares in the company, valued at approximately $4,345,220.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jonathan J. Doyle sold 2,013 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $179.79, for a total transaction of $361,917.27. Following the completion of the sale, 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. In the last quarter, insiders have sold 21,875 shares of company stock valued at $4,009,781. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PIPR shares. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th.

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.