Piper Sandler Companies $PIPR Shares Acquired by Yousif Capital Management LLC

Yousif Capital Management LLC boosted its position in shares of Piper Sandler Companies (NYSE:PIPR) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,200 shares of the financial services provider’s stock after buying an additional 187 shares during the quarter. Yousif Capital Management LLC’s holdings in Piper Sandler Companies were worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in Piper Sandler Companies by 35.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 54,355 shares of the financial services provider’s stock valued at $15,480,000 after acquiring an additional 14,241 shares during the last quarter. CWM LLC grew its stake in shares of Piper Sandler Companies by 12.0% in the 2nd quarter. CWM LLC now owns 345 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 37 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Piper Sandler Companies by 17.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,015 shares of the financial services provider’s stock worth $838,000 after purchasing an additional 443 shares in the last quarter. Blue Trust Inc. lifted its stake in Piper Sandler Companies by 13.8% during the second quarter. Blue Trust Inc. now owns 288 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 35 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its position in Piper Sandler Companies by 2.4% in the second quarter. Maryland State Retirement & Pension System now owns 4,829 shares of the financial services provider’s stock worth $1,342,000 after buying an additional 111 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PIPR has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Wolfe Research upgraded 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. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $312.50.

Insider Activity at Piper Sandler Companies

In related news, General Counsel John W. Geelan sold 2,000 shares of the stock in a transaction 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 completion of the sale, the general counsel directly owned 12,645 shares in the company, valued at approximately $4,080,415.05. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 of the company’s stock, valued at approximately $5,219,795.34. The trade was a 13.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,136 shares of company stock worth $8,380,342. Corporate insiders own 2.70% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR opened at $327.39 on Monday. Piper Sandler Companies has a one year low of $202.91 and a one year high of $374.77. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 27.63 and a beta of 1.45. The business’s 50-day simple moving average is $339.27.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.96. The company had revenue of $405.39 million for 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 firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.52 EPS. On average, equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS 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. Shareholders of record on Friday, August 29th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.65. Piper Sandler Companies’s payout ratio is currently 23.63%.

About Piper Sandler Companies

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.