Piper Sandler Companies (NYSE:PIPR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in Piper Sandler Companies (NYSE:PIPR) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,381 shares of the financial services provider’s stock after selling 85 shares during the period. PNC Financial Services Group Inc.’s holdings in Piper Sandler Companies were worth $837,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PIPR. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Piper Sandler Companies by 131.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 62 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Piper Sandler Companies in the 1st quarter worth about $27,000. Park Square Financial Group LLC acquired a new stake in shares of Piper Sandler Companies in the 4th quarter worth about $45,000. Lazard Asset Management LLC acquired a new stake in shares of Piper Sandler Companies in the 4th quarter worth about $51,000. Finally, Parallel Advisors LLC increased its holdings in shares of Piper Sandler Companies by 28.6% in the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In other news, General Counsel John W. Geelan sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $322.69, for a total transaction of $645,380.00. Following the completion of the transaction, the general counsel owned 12,645 shares in the company, valued at approximately $4,080,415.05. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Chad R. Abraham sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $319.33, for a total transaction of $3,193,300.00. Following the transaction, the chief executive officer owned 53,558 shares of the company’s stock, valued at approximately $17,102,676.14. This trade represents a 15.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,136 shares of company stock worth $8,380,342. Company insiders own 2.70% of the company’s stock.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $325.57 on Tuesday. The firm has a market cap of $5.76 billion, a PE ratio of 27.47 and a beta of 1.50. The firm’s 50-day moving average is $290.24. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $1.99 by $0.96. The firm had revenue of $405.39 million for the quarter, compared to analysts’ expectations of $349.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. Piper Sandler Companies’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $2.52 EPS. On average, equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.70 per share. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 0.9%. Piper Sandler Companies’s payout ratio is 21.94%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PIPR. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Saturday. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. Finally, Wolfe Research raised shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 target price on the stock in a research note on Thursday, July 10th.

Piper Sandler Companies 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.