Loomis Sayles & Co. L P Sells 46,039 Shares of Piper Sandler Companies $PIPR

Loomis Sayles & Co. L P reduced its holdings in Piper Sandler Companies (NYSE:PIPR) by 24.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,630 shares of the financial services provider’s stock after selling 46,039 shares during the quarter. Loomis Sayles & Co. L P owned 0.78% of Piper Sandler Companies worth $38,531,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PIPR. Norges Bank acquired a new position in shares of Piper Sandler Companies in the 2nd quarter valued at approximately $59,820,000. Nuveen LLC bought a new position in Piper Sandler Companies in the first quarter valued at approximately $49,826,000. American Century Companies Inc. lifted its position in Piper Sandler Companies by 1,155.7% in the 2nd quarter. American Century Companies Inc. now owns 200,149 shares of the financial services provider’s stock valued at $55,630,000 after acquiring an additional 184,210 shares in the last quarter. Franklin Resources Inc. acquired a new position in Piper Sandler Companies in the 2nd quarter worth $51,021,000. Finally, Westwood Holdings Group Inc. boosted its stake in Piper Sandler Companies by 35.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider’s stock worth $88,456,000 after purchasing an additional 92,527 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In other news, CFO Katherine Patricia Clune sold 1,367 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the transaction, the chief financial officer directly owned 10,425 shares in the company, valued at $3,384,893.25. The trade was a 11.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $825,825.00. Following the completion of the sale, the president directly owned 2,896 shares in the company, valued at approximately $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.70% of the company’s stock.

Piper Sandler Companies Stock Performance

PIPR opened at $335.90 on Friday. The business’s 50-day simple moving average is $335.97 and its 200 day simple moving average is $312.36. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $374.77. The firm has a market capitalization of $5.94 billion, a PE ratio of 28.35 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $455.31 million for the quarter, compared to analyst estimates of $408.40 million. During the same quarter in the previous year, the firm earned $2.57 EPS. The business’s quarterly revenue was up 33.3% on a year-over-year basis. On average, research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors 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 yield of 0.8%. The ex-dividend date is Tuesday, November 25th. Piper Sandler Companies’s payout ratio is presently 21.10%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PIPR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $368.00 to $386.00 in a research note on Monday, November 10th. Finally, Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.50.

About Piper Sandler Companies

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.