Piper Sandler Companies $PIPR Shares Purchased by Walleye Capital LLC

Walleye Capital LLC boosted its stake in Piper Sandler Companies (NYSE:PIPR) by 357.5% in the second quarter, Holdings Channel.com reports. The fund owned 48,147 shares of the financial services provider’s stock after buying an additional 37,624 shares during the quarter. Walleye Capital LLC’s holdings in Piper Sandler Companies were worth $13,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. increased its position in shares of Piper Sandler Companies by 9.8% during the second quarter. Invesco Ltd. now owns 694,312 shares of the financial services provider’s stock worth $192,977,000 after purchasing an additional 61,808 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Piper Sandler Companies by 0.3% in the 2nd quarter. Systematic Financial Management LP now owns 194,799 shares of the financial services provider’s stock valued at $54,143,000 after purchasing an additional 521 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in Piper Sandler Companies during the 2nd quarter worth approximately $31,000. Arrowstreet Capital Limited Partnership acquired a new position in Piper Sandler Companies during the second quarter worth approximately $6,530,000. Finally, M&T Bank Corp increased its position in Piper Sandler Companies by 3.5% during the second quarter. M&T Bank Corp now owns 905 shares of the financial services provider’s stock worth $251,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Trading Up 2.0%

NYSE PIPR opened at $338.76 on Friday. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 25.53 and a beta of 1.55. The business’s 50 day moving average is $333.89 and its two-hundred day moving average is $313.84. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $374.77.

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, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The firm had revenue of $455.31 million for the quarter, compared to the consensus estimate of $408.40 million. During the same period in the previous year, the business earned $2.57 earnings per share. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. Equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

Insider Activity

In other news, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $324.69, for a total value of $443,851.23. Following the completion of the transaction, the chief financial officer owned 10,425 shares in the company, valued at $3,384,893.25. This trade represents a 11.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Debbra L. Schoneman sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total transaction of $825,825.00. Following the sale, the president directly owned 2,896 shares in the company, valued at approximately $956,635.68. This represents a 46.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,267 shares of company stock worth $3,763,746 in the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

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.