Principal Financial Group Inc. Has $17.89 Million Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Principal Financial Group Inc. lowered its position in shares of Piper Sandler Companies (NYSE:PIPR) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,710 shares of the financial services provider’s stock after selling 1,898 shares during the quarter. Principal Financial Group Inc.’s holdings in Piper Sandler Companies were worth $17,887,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Piper Sandler Companies in the fourth quarter valued at approximately $21,023,000. Mairs & Power Inc. boosted its stake in Piper Sandler Companies by 210.8% in the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock worth $21,526,000 after purchasing an additional 83,495 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after purchasing an additional 59,915 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Piper Sandler Companies in the first quarter valued at $10,970,000. Finally, Edgestream Partners L.P. raised its holdings in shares of Piper Sandler Companies by 295.6% in the first quarter. Edgestream Partners L.P. now owns 29,404 shares of the financial services provider’s stock valued at $5,836,000 after buying an additional 21,972 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction on 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 directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction on 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 directly owns 15,065 shares in the company, valued at $3,867,637.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction 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 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 worth $3,936,252. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

Piper Sandler Companies Stock Down 0.2 %

PIPR stock opened at $261.96 on Thursday. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $280.45. The company has a market cap of $4.64 billion, a P/E ratio of 44.55 and a beta of 1.40. The business has a fifty day moving average of $261.49 and a 200-day moving average of $241.55.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.26. The firm 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%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is currently 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.