Piper Sandler Companies (NYSE:PIPR) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,072 shares of the financial services provider’s stock after selling 1,811 shares during the quarter. Great Lakes Advisors LLC’s holdings in Piper Sandler Companies were worth $8,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC lifted its holdings in shares of Piper Sandler Companies by 172,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 1,725 shares during the period. 1492 Capital Management LLC raised its stake in Piper Sandler Companies by 1.1% during the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 68 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Piper Sandler Companies by 1.9% in the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after purchasing an additional 610 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock valued at $341,051,000 after buying an additional 15,075 shares during the period. Finally, Oliver Luxxe Assets LLC increased its holdings in shares of Piper Sandler Companies by 40.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock worth $1,030,000 after buying an additional 1,689 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Down 2.1 %

Shares of PIPR stock opened at $259.29 on Friday. The company has a market cap of $4.59 billion, a PE ratio of 44.10 and a beta of 1.40. The company’s fifty day simple moving average is $262.19 and its 200-day simple moving average is $243.48. Piper Sandler Companies has a 52 week low of $130.89 and a 52 week high of $280.45.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. Equities research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a $0.65 dividend. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 1.00%. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Insider Activity

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock worth $3,936,252 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, June 11th.

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.