Piper Sandler Companies (NYSE:PIPR) Shares Purchased by nVerses Capital LLC

nVerses Capital LLC grew its holdings in Piper Sandler Companies (NYSE:PIPR) by 100.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 200 shares of the financial services provider’s stock after buying an additional 100 shares during the period. nVerses Capital LLC’s holdings in Piper Sandler Companies were worth $46,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised 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 last quarter. Parallel Advisors LLC increased its holdings in shares of Piper Sandler Companies by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 64 shares during the period. Mather Group LLC. purchased a new stake in shares of Piper Sandler Companies during the first quarter worth approximately $64,000. Quadrant Capital Group LLC lifted its holdings in shares of Piper Sandler Companies by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 80 shares during the period. Finally, FSC Wealth Advisors LLC grew its position in Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after buying an additional 97 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Trading Down 0.2 %

Shares of PIPR opened at $261.96 on Thursday. Piper Sandler Companies has a 12-month low of $130.89 and a 12-month high of $280.45. The stock has a market cap of $4.64 billion, a P/E ratio of 44.55 and a beta of 1.40. The company has a 50-day moving average of $261.49 and a two-hundred day moving average of $241.55.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a $0.65 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.99%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is currently 44.22%.

Insider Activity

In related news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s 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 sale, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction dated 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 transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock valued at $3,936,252 in the last 90 days. 3.00% of the stock is currently owned by insiders.

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.