Russell Investments Group Ltd. Reduces Stock Holdings in Piper Sandler Companies $PIPR

Russell Investments Group Ltd. reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 38.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,431 shares of the financial services provider’s stock after selling 8,469 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Piper Sandler Companies worth $3,327,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PIPR. Parallel Advisors LLC grew its position in Piper Sandler Companies by 28.6% during the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock valued at $53,000 after buying an additional 48 shares during the period. Lido Advisors LLC boosted its stake in shares of Piper Sandler Companies by 1.2% during the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 49 shares during the last quarter. M&T Bank Corp grew its position in shares of Piper Sandler Companies by 6.6% during the 1st quarter. M&T Bank Corp now owns 874 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 54 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 56 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in 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 purchasing an additional 62 shares during the period. Institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. 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 for the company in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $312.50.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $336.0230 on Friday. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80. The stock has a 50-day simple moving average of $302.78. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 28.36 and a beta of 1.50.

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

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 21.94%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, Director Scott C. Taylor sold 2,600 shares of Piper Sandler Companies stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $319.86, for a total value of $831,636.00. Following the sale, the director directly owned 16,319 shares in the company, valued at approximately $5,219,795.34. The trade was a 13.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad R. Abraham sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $319.33, for a total transaction of $3,193,300.00. Following the completion of the sale, the chief executive officer owned 53,558 shares in the company, valued at approximately $17,102,676.14. The trade was a 15.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,136 shares of company stock valued at $8,380,342. Insiders own 2.70% of the company’s stock.

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.