Amundi Sells 1,554 Shares of Piper Sandler Companies $PIPR

Amundi trimmed its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 18.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,648 shares of the financial services provider’s stock after selling 1,554 shares during the quarter. Amundi’s holdings in Piper Sandler Companies were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Piper Sandler Companies by 131.9% during the first 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 last quarter. von Borstel & Associates Inc. acquired a new stake in Piper Sandler Companies during the first quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Piper Sandler Companies by 495.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Park Square Financial Group LLC acquired a new stake in Piper Sandler Companies during the fourth quarter worth approximately $45,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Piper Sandler Companies during the first quarter worth approximately $37,000. 72.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PIPR. Wall Street Zen cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Wolfe Research raised Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 target price for the company in a research note on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $312.50.

Piper Sandler Companies Stock Down 0.2%

Shares of Piper Sandler Companies stock opened at $346.17 on Friday. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $351.80. The firm has a 50 day moving average price of $321.40. The firm has a market capitalization of $6.12 billion, a PE ratio of 29.21 and a beta of 1.45.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, beating 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 firm had revenue of $405.39 million during the quarter, compared to analysts’ expectations of $349.40 million. During the same quarter last year, the firm posted $2.52 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, analysts expect 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 was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. Piper Sandler Companies’s payout ratio is presently 23.63%.

Insider Buying and Selling

In related news, General Counsel John W. Geelan sold 2,000 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $322.69, for a total transaction of $645,380.00. Following the transaction, the general counsel owned 12,645 shares of the company’s stock, valued at $4,080,415.05. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan J. Doyle sold 3,536 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $316.84, for a total value of $1,120,346.24. Following the transaction, the insider directly owned 132,910 shares in the company, valued at approximately $42,111,204.40. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,136 shares of company stock worth $8,380,342 in the last ninety days. Corporate 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.