1,222 Shares in Piper Sandler Companies (NYSE:PIPR) Acquired by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the second quarter, Holdings Channel reports. The firm purchased 1,222 shares of the financial services provider’s stock, valued at approximately $284,000.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the period. Parallel Advisors LLC increased its position in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 64 shares in the last quarter. nVerses Capital LLC increased its position in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares in the last quarter. Mather Group LLC. purchased a new position in Piper Sandler Companies during the first quarter worth $64,000. Finally, FSC Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 18,341 shares in the company, valued at $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 news, Director Philip Soran sold 1,792 shares of the stock in a transaction 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 sale, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock valued at $3,936,252 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $283.47 on Thursday. The stock’s 50-day moving average is $273.16 and its two-hundred day moving average is $259.64. The stock has a market cap of $5.02 billion, a PE ratio of 48.21 and a beta of 1.39. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $289.02.

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 (EPS) 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 firm had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, research analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

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

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.