Piper Sandler Companies (NYSE:PIPR) Shares Bought by Morse Asset Management Inc

Morse Asset Management Inc grew its stake in Piper Sandler Companies (NYSE:PIPR) by 74.6% during the 2nd quarter, Holdings Channel reports. The firm owned 1,790 shares of the financial services provider’s stock after purchasing an additional 765 shares during the quarter. Morse Asset Management Inc’s holdings in Piper Sandler Companies were worth $412,000 at the end of the most recent reporting period.

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

Piper Sandler Companies Trading Up 1.1 %

NYSE:PIPR opened at $286.99 on Monday. The stock has a market capitalization of $5.08 billion, a P/E ratio of 48.81 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $287.90. The stock has a 50-day simple moving average of $268.21.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results 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 analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the company posted $1.13 EPS. As a group, analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

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

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Insider Buying and Selling at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies 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 transaction, the insider now 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 can be accessed through this hyperlink. In other news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares in the company, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 in the last three months. 3.00% of the stock is owned by corporate insiders.

Piper Sandler Companies Company 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.