Oppenheimer Asset Management Inc. Buys 733 Shares of Piper Sandler Companies $PIPR

Oppenheimer Asset Management Inc. lifted its stake in Piper Sandler Companies (NYSE:PIPR) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,437 shares of the financial services provider’s stock after purchasing an additional 733 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Piper Sandler Companies were worth $2,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in Piper Sandler Companies in the first quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Piper Sandler Companies by 495.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. AdvisorNet Financial Inc raised its holdings 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 acquiring an additional 37 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in Piper Sandler Companies in the 1st quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. lifted 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 valued at $42,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $325.20 on Thursday. Piper Sandler Companies has a one year low of $202.91 and a one year high of $374.77. The firm’s fifty day moving average price is $340.94. The stock has a market capitalization of $5.75 billion, a PE ratio of 27.44 and a beta of 1.45.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $1.99 by $0.96. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The firm had revenue of $405.39 million during the quarter, compared to analyst estimates of $349.40 million. During the same quarter in the prior year, the firm earned $2.52 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Piper Sandler Companies will post 14.14 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 12th. Shareholders of record on Friday, August 29th were given a $0.70 dividend. The ex-dividend date was Friday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 0.9%. Piper Sandler Companies’s payout ratio is 23.63%.

Insider Buying and Selling at Piper Sandler Companies

In other news, General Counsel John W. Geelan sold 2,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $322.69, for a total transaction of $645,380.00. Following the completion of the sale, the general counsel owned 12,645 shares of the company’s stock, valued at $4,080,415.05. The trade was a 13.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott C. Taylor sold 2,600 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $319.86, for a total value of $831,636.00. Following the completion of the sale, the director owned 16,319 shares of the company’s stock, valued at $5,219,795.34. This trade represents a 13.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,136 shares of company stock worth $8,380,342. 2.70% of the stock is owned by insiders.

Analysts Set New Price Targets

PIPR has been the subject of several recent analyst reports. Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Wall Street Zen upgraded 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 research report on Wednesday, October 8th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.