Fisher Asset Management LLC Sells 3,563 Shares of Piper Sandler Companies $PIPR

Fisher Asset Management LLC lessened its position in Piper Sandler Companies (NYSE:PIPR) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 150,646 shares of the financial services provider’s stock after selling 3,563 shares during the period. Fisher Asset Management LLC owned about 0.85% of Piper Sandler Companies worth $41,871,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Greenwich Wealth Management LLC raised its holdings in Piper Sandler Companies by 415.1% in the 2nd quarter. Greenwich Wealth Management LLC now owns 104,200 shares of the financial services provider’s stock worth $28,961,000 after acquiring an additional 83,971 shares during the last quarter. Lido Advisors LLC boosted its stake in Piper Sandler Companies by 1.5% during the 2nd quarter. Lido Advisors LLC now owns 6,055 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 88 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Piper Sandler Companies by 4.7% in the 2nd quarter. New York State Common Retirement Fund now owns 8,931 shares of the financial services provider’s stock worth $2,482,000 after purchasing an additional 400 shares in the last quarter. Norges Bank purchased a new position in shares of Piper Sandler Companies in the second quarter worth $59,820,000. Finally, Level Four Advisory Services LLC raised its stake in shares of Piper Sandler Companies by 11.2% in the second quarter. Level Four Advisory Services LLC now owns 5,063 shares of the financial services provider’s stock worth $1,407,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $324.16 on Wednesday. The stock’s 50-day simple moving average is $334.49 and its two-hundred day simple moving average is $313.54. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 27.36 and a beta of 1.50. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $2.96 by $0.86. The firm had revenue of $455.31 million during the quarter, compared to analyst estimates of $408.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 EPS. As a group, equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

Analyst Ratings Changes

PIPR has been the topic of several recent analyst reports. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price target for the company from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Zacks Research raised shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. One equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $362.50.

Insider Transactions at Piper Sandler Companies

In other news, CFO Katherine Patricia Clune sold 1,367 shares of Piper Sandler Companies stock in a transaction on Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the transaction, the chief financial officer owned 10,425 shares in the company, valued at $3,384,893.25. This trade represents a 11.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chad R. Abraham sold 4,400 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $337.60, for a total value of $1,485,440.00. Following the completion of the sale, the chief executive officer owned 53,558 shares of the company’s stock, valued at $18,081,180.80. This trade represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,267 shares of company stock worth $3,763,746 in the last 90 days. 2.70% of the stock is currently owned by insiders.

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.