Piper Sandler Companies (NYSE:PIPR) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its position in Piper Sandler Companies (NYSE:PIPR) by 52.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,018 shares of the financial services provider’s stock after selling 15,386 shares during the period. Edgestream Partners L.P. owned 0.08% of Piper Sandler Companies worth $3,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in shares of Piper Sandler Companies by 21.6% in the 2nd quarter. Renaissance Technologies LLC now owns 46,695 shares of the financial services provider’s stock worth $10,748,000 after acquiring an additional 8,300 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Piper Sandler Companies by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 57,090 shares of the financial services provider’s stock worth $13,141,000 after purchasing an additional 2,510 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Piper Sandler Companies by 18.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,688 shares of the financial services provider’s stock worth $1,770,000 after purchasing an additional 1,204 shares during the period. Nicholas Investment Partners LP bought a new stake in Piper Sandler Companies during the second quarter valued at $5,950,000. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Piper Sandler Companies by 35.2% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 5,420 shares of the financial services provider’s stock worth $1,248,000 after purchasing an additional 1,410 shares during the period. 72.79% of the stock is owned by institutional investors.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the completion of the sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,276 shares of company stock worth $3,936,252. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $275.37 on Thursday. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $282.75. The stock has a fifty day moving average price of $266.80 and a 200 day moving average price of $249.41. The company has a market cap of $4.87 billion, a P/E ratio of 46.83 and a beta of 1.40.

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

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is 44.22%.

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.