Piper Sandler Companies (NYSE:PIPR) Stake Increased by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC raised its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 14.8% during the third quarter, HoldingsChannel reports. The fund owned 24,202 shares of the financial services provider’s stock after acquiring an additional 3,124 shares during the quarter. Piper Sandler Companies comprises approximately 1.2% of Moody Aldrich Partners LLC’s holdings, making the stock its 25th largest position. Moody Aldrich Partners LLC’s holdings in Piper Sandler Companies were worth $6,869,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its holdings 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 buying an additional 610 shares during the last quarter. Millennium Management LLC raised 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 in the last quarter. Vanguard Group Inc. lifted its stake in Piper Sandler Companies by 0.8% during 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 last quarter. EntryPoint Capital LLC acquired a new position in Piper Sandler Companies in the first quarter worth $90,000. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Piper Sandler Companies by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock worth $1,795,000 after purchasing an additional 300 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock traded up $1.88 during trading on Thursday, hitting $290.27. 7,634 shares of the stock were exchanged, compared to its average volume of 106,132. The stock has a market cap of $5.14 billion, a PE ratio of 38.15 and a beta of 1.39. The stock’s fifty day moving average is $289.50 and its 200 day moving average is $272.47. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $306.10.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. Sell-side analysts anticipate that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently declared 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 boost 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 0.90%. Piper Sandler Companies’s dividend payout ratio is presently 34.12%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies 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 transaction, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction on Monday, August 5th. The stock was 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 in the company, valued at $37,883,279.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,276 shares of company stock valued at $3,936,252. Company insiders own 3.00% of the company’s stock.

Piper Sandler Companies Company 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.