Crossmark Global Holdings Inc. Sells 158 Shares of Piper Sandler Companies (NYSE:PIPR)

Crossmark Global Holdings Inc. decreased its position in Piper Sandler Companies (NYSE:PIPR) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090 shares of the financial services provider’s stock after selling 158 shares during the period. Crossmark Global Holdings Inc.’s holdings in Piper Sandler Companies were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Oliver Luxxe Assets LLC boosted its stake in Piper Sandler Companies by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 62 shares in the last quarter. Parallel Advisors LLC lifted its stake in Piper Sandler Companies by 62.1% during the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 64 shares during the period. 1492 Capital Management LLC lifted its stake in Piper Sandler Companies by 1.1% during the 4th quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 68 shares during the period. Blue Trust Inc. lifted its stake in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 74 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Piper Sandler Companies by 21.1% during the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 80 shares during the period. Institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, June 11th.

Insider Activity

In other news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock valued at $3,936,252 in the last quarter. 3.00% of the stock is currently owned by insiders.

Piper Sandler Companies Stock Performance

PIPR opened at $261.96 on Thursday. The stock has a market capitalization of $4.64 billion, a P/E ratio of 44.55 and a beta of 1.40. The company’s 50-day simple moving average is $261.49 and its two-hundred day simple moving average is $241.55. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $280.45.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.26. The business had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. Research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.99%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

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.