SG Americas Securities LLC Acquires 2,065 Shares of Piper Sandler Companies $PIPR

SG Americas Securities LLC lifted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 250.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,891 shares of the financial services provider’s stock after purchasing an additional 2,065 shares during the period. SG Americas Securities LLC’s holdings in Piper Sandler Companies were worth $1,003,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PIPR. CENTRAL TRUST Co acquired a new position in Piper Sandler Companies in the second quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Piper Sandler Companies in the 2nd quarter valued at $31,000. AdvisorNet Financial Inc lifted its position in shares of Piper Sandler Companies by 48.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 37 shares during the period. Salomon & Ludwin LLC bought a new position in Piper Sandler Companies during the third quarter worth $41,000. Finally, Geneos Wealth Management Inc. boosted its stake in Piper Sandler Companies by 46.6% during the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $368.00 to $386.00 in a research note on Monday, November 10th. Wolfe Research reaffirmed an “outperform” rating and set a $398.00 price target on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Finally, Zacks Research lowered Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Piper Sandler Companies has an average rating of “Hold” and an average price target of $392.00.

Piper Sandler Companies Stock Up 0.6%

Shares of Piper Sandler Companies stock opened at $376.89 on Monday. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $379.54. The business has a 50 day moving average price of $345.17 and a 200-day moving average price of $335.01. The company has a market cap of $6.67 billion, a PE ratio of 28.40 and a beta of 1.54.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.86. The business had revenue of $455.31 million during the quarter, compared to the consensus estimate of $408.40 million. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.Piper Sandler Companies’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 earnings per share. As a group, research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Tuesday, November 25th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 21.10%.

Insider Buying and Selling

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

Piper Sandler Companies Company Profile

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.