TD Asset Management Inc Acquires Shares of 2,100 Piper Sandler Companies (NYSE:PIPR)

TD Asset Management Inc acquired a new stake in Piper Sandler Companies (NYSE:PIPR) during the second quarter, HoldingsChannel reports. The fund acquired 2,100 shares of the financial services provider’s stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TFO Wealth Partners LLC boosted its stake in Piper Sandler Companies by 172,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 1,725 shares during the last quarter. 1492 Capital Management LLC boosted its stake in Piper Sandler Companies by 1.1% in the fourth quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 68 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Piper Sandler Companies by 1.9% in the second quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after acquiring an additional 610 shares during the last quarter. Vanguard Group Inc. raised its holdings in Piper Sandler Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock worth $341,051,000 after purchasing an additional 15,075 shares during the period. Finally, Oliver Luxxe Assets LLC raised its holdings in Piper Sandler Companies by 40.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock worth $1,030,000 after purchasing an additional 1,689 shares during the period. 72.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Trading Up 2.5 %

PIPR opened at $267.64 on Monday. The stock has a fifty day moving average price of $264.85. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 45.52 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $280.45.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. During the same period last year, the business posted $1.13 earnings per share. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a $0.65 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.97%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Insider Activity at Piper Sandler Companies

In related news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were 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 $4,840,556.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction dated 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 completion of the transaction, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction dated 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 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. Corporate insiders own 3.00% of the company’s stock.

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.