3,872 Shares in Piper Sandler Companies $PIPR Bought by D.A. Davidson & CO.

D.A. Davidson & CO. bought a new position in Piper Sandler Companies (NYSE:PIPR) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 3,872 shares of the financial services provider’s stock, valued at approximately $1,076,000.

A number of other large investors also recently added to or reduced their stakes in PIPR. von Borstel & Associates Inc. purchased a new position in Piper Sandler Companies in the 1st quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Piper Sandler Companies by 495.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. AdvisorNet Financial Inc raised its position in Piper Sandler Companies by 48.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 37 shares during the period. Wealth Preservation Advisors LLC purchased a new position in Piper Sandler Companies in the 1st quarter worth $37,000. Finally, Geneos Wealth Management Inc. raised its position in Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 8,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $323.71, for a total transaction of $2,589,680.00. Following the sale, the chief executive officer owned 53,558 shares of the company’s stock, valued at $17,337,260.18. The trade was a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel John W. Geelan sold 2,000 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $322.69, for a total transaction of $645,380.00. Following the sale, the general counsel directly owned 12,645 shares in the company, valued at $4,080,415.05. The trade was a 13.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,136 shares of company stock worth $8,380,342. Insiders own 2.70% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $350.77 on Tuesday. The company’s 50-day moving average is $340.40. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 29.60 and a beta of 1.45. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.96. The firm had revenue of $405.39 million for the quarter, compared to analyst estimates of $349.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.52 EPS. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 0.8%. Piper Sandler Companies’s payout ratio is presently 23.63%.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Wolfe Research raised shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price target on the stock in a report on Thursday, July 10th. Finally, Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Piper Sandler Companies presently has a consensus rating of “Hold” and a consensus price target of $312.50.

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.