Fox Run Management L.L.C. Buys New Holdings in Piper Sandler Companies $PIPR

Fox Run Management L.L.C. purchased a new position in Piper Sandler Companies (NYSE:PIPR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,383 shares of the financial services provider’s stock, valued at approximately $384,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Westwood Holdings Group Inc. boosted its stake in shares of Piper Sandler Companies by 35.0% during the first quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider’s stock valued at $88,456,000 after purchasing an additional 92,527 shares during the period. GW&K Investment Management LLC boosted its position in Piper Sandler Companies by 0.8% during the 1st quarter. GW&K Investment Management LLC now owns 323,483 shares of the financial services provider’s stock valued at $80,114,000 after buying an additional 2,620 shares during the period. Stephens Investment Management Group LLC boosted its position in Piper Sandler Companies by 11.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the financial services provider’s stock valued at $77,696,000 after buying an additional 29,035 shares during the period. Nuveen LLC bought a new stake in Piper Sandler Companies in the 1st quarter worth $49,826,000. Finally, Voya Investment Management LLC increased its position in shares of Piper Sandler Companies by 5.4% in the first quarter. Voya Investment Management LLC now owns 133,101 shares of the financial services provider’s stock valued at $32,964,000 after acquiring an additional 6,835 shares during the period. Institutional investors own 72.79% of the company’s stock.

Insider Activity at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the sale, the president directly owned 2,896 shares of the company’s stock, valued at $956,635.68. This represents a 46.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PIPR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and upped their price target for the company from $368.00 to $386.00 in a research report on Monday. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $362.50.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $338.94 on Thursday. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $374.77. The stock’s 50 day simple moving average is $340.40 and its two-hundred day simple moving average is $305.97. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 28.60 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The company had revenue of $455.31 million during the quarter, compared to analysts’ expectations of $408.40 million. During the same quarter last year, the business posted $2.57 EPS. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. On average, analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. Piper Sandler Companies’s payout ratio is 21.10%.

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.