Renaissance Technologies LLC Grows Position in Piper Sandler Companies (NYSE:PIPR)

Renaissance Technologies LLC increased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 21.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,695 shares of the financial services provider’s stock after purchasing an additional 8,300 shares during the period. Renaissance Technologies LLC’s holdings in Piper Sandler Companies were worth $10,748,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PIPR. Norges Bank purchased a new stake in Piper Sandler Companies in the 4th quarter valued at about $21,023,000. Mairs & Power Inc. boosted its position in Piper Sandler Companies by 210.8% in the 4th quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock valued at $21,526,000 after buying an additional 83,495 shares during the period. Goldman Sachs Group Inc. boosted its position in Piper Sandler Companies by 37.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock valued at $38,583,000 after buying an additional 59,915 shares during the period. SageView Advisory Group LLC purchased a new stake in Piper Sandler Companies in the 1st quarter valued at about $10,970,000. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in Piper Sandler Companies in the 2nd quarter valued at about $10,139,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the transaction, the director now directly 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 is available at this hyperlink. In other news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the transaction, the director now directly 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 is available at this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction dated 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 directly owns 160,095 shares in the company, valued at $37,883,279.85. The disclosure for this sale can be found here. In the last three months, insiders sold 16,276 shares of company stock valued at $3,936,252. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

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

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $287.51 on Tuesday. The company has a market cap of $5.09 billion, a PE ratio of 48.90 and a beta of 1.39. The firm’s 50 day moving average price is $268.93 and its 200-day moving average price is $253.43. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $289.02.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.26. The company 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%. Piper Sandler Companies’s revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. On average, analysts forecast 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. Stockholders of record on Thursday, August 29th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s payout ratio is presently 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.