Mercer Global Advisors Inc. ADV Grows Position in Piper Sandler Companies (NYSE:PIPR)

Mercer Global Advisors Inc. ADV boosted its stake in Piper Sandler Companies (NYSE:PIPR) by 5.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,317 shares of the financial services provider’s stock after acquiring an additional 67 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Piper Sandler Companies were worth $303,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Piper Sandler Companies by 21.6% during the 2nd quarter. Renaissance Technologies LLC now owns 46,695 shares of the financial services provider’s stock worth $10,748,000 after buying an additional 8,300 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Piper Sandler Companies by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 57,090 shares of the financial services provider’s stock valued at $13,141,000 after acquiring an additional 2,510 shares in 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 valued at $1,770,000 after purchasing an additional 1,204 shares during the period. Nicholas Investment Partners LP acquired a new position in Piper Sandler Companies during the 2nd quarter worth $5,950,000. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in Piper Sandler Companies by 35.2% during the 2nd 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. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $281.99 on Monday. The business’s 50-day moving average price is $271.55. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $289.02. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 47.96 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 for the quarter, beating the consensus estimate of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. During the same period in the prior year, the company earned $1.13 earnings per share. The company’s revenue was up 23.7% compared to the same quarter last year. On average, research analysts forecast that Piper Sandler Companies will post 11.53 EPS 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 paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.92%. 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 dividend payout ratio is 44.22%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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

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.