Acadian Asset Management LLC Has $1.02 Million Stock Position in Piper Sandler Companies $PIPR

Acadian Asset Management LLC reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 23.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,131 shares of the financial services provider’s stock after selling 1,232 shares during the period. Acadian Asset Management LLC’s holdings in Piper Sandler Companies were worth $1,023,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in shares of Piper Sandler Companies by 46.6% in the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 54 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Piper Sandler Companies by 33.2% in the first quarter. Intech Investment Management LLC now owns 12,249 shares of the financial services provider’s stock valued at $3,034,000 after purchasing an additional 3,056 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Piper Sandler Companies by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the financial services provider’s stock valued at $10,977,000 after purchasing an additional 177 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Piper Sandler Companies in the first quarter valued at approximately $247,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Piper Sandler Companies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the financial services provider’s stock valued at $2,563,000 after purchasing an additional 473 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 3,536 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $316.84, for a total transaction of $1,120,346.24. Following the completion of the transaction, the insider owned 132,910 shares of the company’s stock, valued at approximately $42,111,204.40. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Abraham sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $319.33, for a total value of $3,193,300.00. Following the transaction, the chief executive officer directly owned 53,558 shares of the company’s stock, 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. Insiders sold a total of 26,136 shares of company stock worth $8,380,342 in the last ninety days. Insiders own 2.70% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $354.86 on Thursday. The firm has a market capitalization of $6.28 billion, a P/E ratio of 29.95 and a beta of 1.45. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $360.00. The business’s 50-day simple moving average is $325.13.

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

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid 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 yield of 0.8%. Piper Sandler Companies’s payout ratio is presently 23.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PIPR. Wolfe Research upgraded shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price objective on the stock in a report on Thursday, July 10th. Wall Street Zen cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $312.50.

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.