Algert Global LLC Boosts Stock Position in Piper Sandler Companies (NYSE:PIPR)

Algert Global LLC raised its position in shares of Piper Sandler Companies (NYSE:PIPR) by 20.2% during the 2nd quarter, Holdings Channel reports. The firm owned 18,150 shares of the financial services provider’s stock after buying an additional 3,050 shares during the quarter. Algert Global LLC’s holdings in Piper Sandler Companies were worth $4,178,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after buying an additional 74 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Piper Sandler Companies by 62.1% in the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after buying an additional 64 shares during the period. nVerses Capital LLC lifted its holdings in shares of Piper Sandler Companies by 100.0% in the 2nd 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. acquired a new position in shares of Piper Sandler Companies in the 1st quarter valued at about $64,000. Finally, FSC Wealth Advisors LLC lifted its holdings in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Up 0.6 %

Shares of PIPR stock opened at $283.81 on Tuesday. The stock has a market cap of $5.02 billion, a PE ratio of 48.27 and a beta of 1.39. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $289.02. The business has a 50-day simple moving average of $272.04 and a 200-day simple moving average of $258.36.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly 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 company had revenue of $357.00 million during 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%. Piper Sandler Companies’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. Sell-side analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $0.65 dividend. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction dated 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 owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Piper Sandler Companies news, 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 completion of the transaction, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is owned by company insiders.

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.