Piper Sandler Companies (NYSE:PIPR) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lessened its stake in Piper Sandler Companies (NYSE:PIPR) by 13.1% in the second quarter, HoldingsChannel.com reports. The firm owned 373,475 shares of the financial services provider’s stock after selling 56,230 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Piper Sandler Companies were worth $85,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TFO Wealth Partners LLC boosted its stake 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 in the last quarter. 1492 Capital Management LLC lifted its holdings in shares of Piper Sandler Companies by 1.1% in the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 68 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Piper Sandler Companies by 1.9% in the second 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. increased 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 worth $341,051,000 after purchasing an additional 15,075 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its position 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 purchasing an additional 1,689 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jonathan J. Doyle sold 12,695 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, 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 can be accessed through the SEC website. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction that occurred 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 directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The disclosure for this sale can be found here. Insiders have sold a total of 16,276 shares of company stock worth $3,936,252 in the last quarter. 3.00% of the stock is owned by insiders.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $286.99 on Friday. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $287.90. The firm has a 50 day simple moving average of $268.21 and a 200-day simple moving average of $251.63. The firm has a market cap of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 15.36% and a net margin of 9.23%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a dividend of $0.65 per share. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 0.91%. Piper Sandler Companies’s dividend payout ratio is 44.22%.

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.