Crossmark Global Holdings Inc. Increases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Crossmark Global Holdings Inc. raised its holdings in Piper Sandler Companies (NYSE:PIPR) by 42.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,548 shares of the financial services provider’s stock after buying an additional 458 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Piper Sandler Companies were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PIPR. SG Americas Securities LLC purchased a new stake in shares of Piper Sandler Companies during the first quarter valued at $238,000. Sei Investments Co. increased its holdings in shares of Piper Sandler Companies by 68.1% in the first quarter. Sei Investments Co. now owns 22,204 shares of the financial services provider’s stock valued at $4,408,000 after purchasing an additional 8,994 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Piper Sandler Companies by 1,473.3% in the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 1,326 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Piper Sandler Companies by 7.6% during the first quarter. ProShare Advisors LLC now owns 3,451 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 245 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Piper Sandler Companies by 6.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 5,294 shares of the financial services provider’s stock valued at $1,051,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Activity

In related news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies 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 sale, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This trade represents a 8.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PIPR shares. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Piper Sandler Companies Stock Up 1.4 %

Piper Sandler Companies stock opened at $336.11 on Friday. Piper Sandler Companies has a 52 week low of $150.30 and a 52 week high of $347.15. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 35.91 and a beta of 1.39. The business’s 50-day moving average price is $306.39 and its 200 day moving average price is $284.69.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Equities analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is currently 27.78%.

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.