Piper Sandler Companies (NYSE:PIPR) Stake Reduced by US Bancorp DE

US Bancorp DE cut its holdings in Piper Sandler Companies (NYSE:PIPRFree Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,113 shares of the financial services provider’s stock after selling 204 shares during the quarter. US Bancorp DE’s holdings in Piper Sandler Companies were worth $1,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Piper Sandler Companies by 0.9% in the 3rd 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. Jump Financial LLC purchased a new position in Piper Sandler Companies in the 3rd quarter worth about $967,000. New York State Common Retirement Fund grew its stake in Piper Sandler Companies by 10.2% during the 3rd quarter. New York State Common Retirement Fund now owns 7,642 shares of the financial services provider’s stock valued at $1,110,000 after acquiring an additional 705 shares in the last quarter. Swiss National Bank grew its stake in Piper Sandler Companies by 0.8% during the 3rd quarter. Swiss National Bank now owns 39,000 shares of the financial services provider’s stock valued at $5,667,000 after acquiring an additional 300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 11,847 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Insider Activity at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $212.29, for a total value of $844,489.62. Following the completion of the sale, the president now owns 44,105 shares of the company’s stock, valued at approximately $9,363,050.45. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel John W. Geelan sold 1,570 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the completion of the sale, the general counsel now directly owns 16,854 shares in the company, valued at approximately $3,558,553.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Debbra L. Schoneman sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $212.29, for a total value of $844,489.62. Following the completion of the sale, the president now owns 44,105 shares of the company’s stock, valued at $9,363,050.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,570 shares of company stock valued at $1,393,941. 3.00% of the stock is owned by corporate insiders.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $209.97 on Tuesday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 35.71 and a beta of 1.38. The business has a 50 day simple moving average of $210.11 and a 200 day simple moving average of $198.88. Piper Sandler Companies has a 52 week low of $124.46 and a 52 week high of $216.50.

Piper Sandler Companies (NYSE:PIPRGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $1.89 by $0.90. The business had revenue of $335.29 million during the quarter, compared to analysts’ expectations of $314.97 million. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 EPS. On average, analysts predict that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. Piper Sandler Companies’s payout ratio is 40.82%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PIPR shares. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th.

View Our Latest Analysis on PIPR

About Piper Sandler Companies

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Piper Sandler Companies (NYSE:PIPR)

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