Park Avenue Securities LLC Sells 622 Shares of Piper Sandler Companies (NYSE:PIPR)

Park Avenue Securities LLC cut its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,113 shares of the financial services provider’s stock after selling 622 shares during the quarter. Park Avenue Securities LLC’s holdings in Piper Sandler Companies were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Piper Sandler Companies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock valued at $391,264,000 after purchasing an additional 20,891 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Piper Sandler Companies by 7.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after purchasing an additional 19,662 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Piper Sandler Companies by 37.3% in the 4th 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 period. Bank of New York Mellon Corp lifted its position in shares of Piper Sandler Companies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after purchasing an additional 9,380 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after acquiring an additional 30,942 shares during the period. 72.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Piper Sandler Companies

In related news, Director Philip Soran sold 1,792 shares of the 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 owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip Soran sold 1,792 shares of the company’s 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 sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Piper Sandler Companies Trading Down 1.3 %

Shares of PIPR stock opened at $283.16 on Friday. The firm has a market capitalization of $5.01 billion, a PE ratio of 48.16 and a beta of 1.39. The firm has a fifty day simple moving average of $277.77 and a two-hundred day simple moving average of $264.82. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $292.60.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. The business had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. Piper Sandler Companies’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. On average, equities analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

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