Rhumbline Advisers Has $11.26 Million Position in Piper Sandler Companies (NYSE:PIPR)

Rhumbline Advisers trimmed its stake in Piper Sandler Companies (NYSE:PIPR) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,919 shares of the financial services provider’s stock after selling 179 shares during the quarter. Rhumbline Advisers owned about 0.28% of Piper Sandler Companies worth $11,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Natixis Advisors LLC grew its stake in shares of Piper Sandler Companies by 18.6% in the 2nd quarter. Natixis Advisors LLC now owns 18,351 shares of the financial services provider’s stock valued at $4,224,000 after buying an additional 2,881 shares during the period. nVerses Capital LLC increased its holdings in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 54 shares during the period. Hantz Financial Services Inc. acquired a new stake in Piper Sandler Companies in the 2nd quarter valued at $1,512,000. Finally, BOS Asset Management LLC acquired a new stake in Piper Sandler Companies in the 2nd quarter valued at $206,000. 72.79% of the stock is owned by institutional investors.

Insider Transactions at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Philip Soran sold 1,792 shares of the 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction 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 $37,883,279.85. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock worth $3,936,252 in the last 90 days. Insiders own 3.00% of the company’s stock.

Piper Sandler Companies Stock Down 1.2 %

Shares of Piper Sandler Companies stock opened at $255.58 on Thursday. The company has a market cap of $4.52 billion, a PE ratio of 43.47 and a beta of 1.40. Piper Sandler Companies has a 52 week low of $130.89 and a 52 week high of $280.45. The business has a 50 day moving average price of $264.26 and a 200-day moving average price of $245.02.

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 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 for the quarter, compared to analysts’ expectations of $338.90 million. During the same period last year, the business earned $1.13 EPS. The business’s revenue was up 23.7% on a year-over-year basis. As a group, research analysts anticipate that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 44.22%.

Wall Street Analyst Weigh In

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

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.