Envestnet Asset Management Inc. Acquires 2,510 Shares of Piper Sandler Companies (NYSE:PIPR)

Envestnet Asset Management Inc. raised its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 4.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 57,090 shares of the financial services provider’s stock after purchasing an additional 2,510 shares during the period. Envestnet Asset Management Inc. owned approximately 0.32% of Piper Sandler Companies worth $13,141,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PIPR. Blue Trust Inc. lifted its holdings in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the period. Parallel Advisors LLC increased its holdings in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares during the last quarter. nVerses Capital LLC raised its stake in shares of Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares during the period. Mather Group LLC. purchased a new stake in shares of Piper Sandler Companies during the 1st quarter valued at approximately $64,000. Finally, FSC Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling 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 completion of the transaction, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction dated Monday, August 5th. The stock was 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 of the company’s stock, valued at $37,883,279.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip Soran sold 1,792 shares of the company’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 sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $283.58 on Thursday. The company has a fifty day moving average of $270.63 and a 200-day moving average of $254.90. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $289.02. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 48.23 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. The company had revenue of $357.00 million during 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 firm’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 EPS. On average, equities research 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. Investors of record on Thursday, August 29th were paid a $0.65 dividend. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

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.