Piper Sandler Companies (NYSE:PIPR) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its holdings in Piper Sandler Companies (NYSE:PIPR – Get Rating) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 27,779 shares of the company’s stock after selling 468 shares during the quarter. Raymond James & Associates’ holdings in Piper Sandler Companies were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Belpointe Asset Management LLC acquired a new stake in shares of Piper Sandler Companies in the fourth quarter worth $27,000. Ronald Blue Trust Inc. increased its stake in shares of Piper Sandler Companies by 97.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 247 shares of the company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Piper Sandler Companies by 44.7% in the third quarter. Quadrant Capital Group LLC now owns 408 shares of the company’s stock worth $43,000 after acquiring an additional 126 shares during the period. SouthState Corp increased its stake in shares of Piper Sandler Companies by 15.3% in the third quarter. SouthState Corp now owns 594 shares of the company’s stock worth $62,000 after acquiring an additional 79 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Piper Sandler Companies by 105.6% in the third quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $134,000 after acquiring an additional 655 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

Piper Sandler Companies Stock Performance

PIPR opened at $127.54 on Friday. The company has a quick ratio of 0.39, a current ratio of 1.41 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 21.73 and a beta of 1.38. Piper Sandler Companies has a 52-week low of $102.60 and a 52-week high of $162.20. The firm’s fifty day simple moving average is $132.93 and its two-hundred day simple moving average is $138.83.

Piper Sandler Companies (NYSE:PIPR – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.96. The business had revenue of $290.24 million for the quarter, compared to the consensus estimate of $299.34 million. Piper Sandler Companies had a net margin of 7.25% and a return on equity of 15.38%. The company’s revenue was down 19.9% compared to the same quarter last year. During the same period last year, the firm posted $3.12 earnings per share. Equities analysts anticipate that Piper Sandler Companies will post 8.86 earnings per share for the current fiscal year.

Piper Sandler Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 26th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 25th. Piper Sandler Companies’s payout ratio is 40.89%.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of research reports. Northland Securities cut their price objective on shares of Piper Sandler Companies from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 29th. JMP Securities lowered their price target on shares of Piper Sandler Companies from $180.00 to $174.00 and set a “market outperform” rating on the stock in a report on Monday, April 10th. The Goldman Sachs Group increased their price target on shares of Piper Sandler Companies from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Monday, February 6th. Finally, StockNews.com began coverage on shares of Piper Sandler Companies in a report on Thursday, May 18th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 1,970 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $130.05, for a total transaction of $256,198.50. Following the transaction, the chief executive officer now directly owns 29,646 shares of the company’s stock, valued at $3,855,462.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Chad R. Abraham sold 12,556 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $127.20, for a total value of $1,597,123.20. Following the transaction, the chief executive officer now directly owns 39,060 shares of the company’s stock, valued at $4,968,432. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad R. Abraham sold 1,970 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $130.05, for a total transaction of $256,198.50. Following the completion of the transaction, the chief executive officer now directly owns 29,646 shares in the company, valued at $3,855,462.30. The disclosure for this sale can be found here. Insiders have sold a total of 16,850 shares of company stock valued at $2,156,042 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

About Piper Sandler Companies

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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.