Aviva PLC Has $506,000 Stock Position in Piper Sandler Companies $PIPR

Aviva PLC reduced its holdings in Piper Sandler Companies (NYSE:PIPR) by 21.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,821 shares of the financial services provider’s stock after selling 507 shares during the quarter. Aviva PLC’s holdings in Piper Sandler Companies were worth $506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PIPR. Fox Run Management L.L.C. acquired a new stake in shares of Piper Sandler Companies during the 2nd quarter worth approximately $384,000. EFG Asset Management North America Corp. boosted its stake in Piper Sandler Companies by 41.3% during the second quarter. EFG Asset Management North America Corp. now owns 14,096 shares of the financial services provider’s stock worth $3,925,000 after acquiring an additional 4,122 shares in the last quarter. Fullcircle Wealth LLC acquired a new stake in Piper Sandler Companies in the second quarter worth $204,000. Bank of Montreal Can increased its stake in Piper Sandler Companies by 5.9% in the second quarter. Bank of Montreal Can now owns 3,276 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 183 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its stake in Piper Sandler Companies by 9.0% in the second quarter. Moody Aldrich Partners LLC now owns 25,246 shares of the financial services provider’s stock valued at $7,017,000 after purchasing an additional 2,095 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the completion of the sale, the president directly owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. This represents a 46.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Piper Sandler Companies Stock Down 3.2%

Shares of NYSE:PIPR opened at $328.06 on Friday. The business’s 50 day moving average is $340.34 and its 200 day moving average is $306.12. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $374.77. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 27.68 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.86. The business had revenue of $455.31 million for the quarter, compared to analysts’ expectations of $408.40 million. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The business’s revenue was up 33.3% on a year-over-year basis. During the same period last year, the business earned $2.57 EPS. As a group, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Tuesday, November 25th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 21.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PIPR. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $368.00 to $386.00 in a research report on Monday. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Finally, Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $362.50.

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.