Price T Rowe Associates Inc. MD lessened its stake in Piper Sandler Companies (NYSE:PIPR) by 11.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,098 shares of the company’s stock after selling 1,454 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Piper Sandler Companies were worth $1,438,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Prudential Financial Inc. raised its holdings in shares of Piper Sandler Companies by 33.5% in the 2nd quarter. Prudential Financial Inc. now owns 136,795 shares of the company’s stock worth $17,723,000 after purchasing an additional 34,361 shares during the period. Balyasny Asset Management LLC bought a new stake in shares of Piper Sandler Companies in the 2nd quarter worth approximately $1,711,000. Amalgamated Bank bought a new stake in shares of Piper Sandler Companies in the 2nd quarter worth approximately $953,000. First Trust Advisors LP raised its holdings in shares of Piper Sandler Companies by 19.5% in the 2nd quarter. First Trust Advisors LP now owns 15,299 shares of the company’s stock worth $1,982,000 after purchasing an additional 2,498 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Piper Sandler Companies by 3.3% in the 2nd quarter. Royal Bank of Canada now owns 21,658 shares of the company’s stock worth $2,806,000 after purchasing an additional 695 shares during the period. 64.36% of the stock is currently owned by institutional investors.
In related news, insider Jonathan J. Doyle sold 5,047 shares of the company’s stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $135.02, for a total value of $681,445.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John W. Geelan sold 2,500 shares of the company’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $179.41, for a total transaction of $448,525.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,372 shares of company stock valued at $3,738,981 over the last 90 days. Company insiders own 3.80% of the company’s stock.
Shares of PIPR stock opened at $181.00 on Thursday. The company’s fifty day simple moving average is $161.25 and its two-hundred day simple moving average is $141.25. Piper Sandler Companies has a 1 year low of $90.62 and a 1 year high of $193.60. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 14.53 and a beta of 1.43.
Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Thursday, October 28th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.78. The firm had revenue of $445.80 million during the quarter, compared to analyst estimates of $403.64 million. Piper Sandler Companies had a net margin of 11.55% and a return on equity of 32.32%. The business’s revenue for the quarter was up 46.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 EPS. As a group, analysts forecast that Piper Sandler Companies will post 19.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Tuesday, November 23rd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 22nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.22%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 17.66%.
About Piper Sandler Companies
Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.
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