Piper Sandler Companies (NYSE:PIPR) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in shares of Piper Sandler Companies (NYSE:PIPRFree Report) by 13.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,568 shares of the financial services provider’s stock after selling 405 shares during the period. New York Life Investment Management LLC’s holdings in Piper Sandler Companies were worth $373,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO acquired a new position in Piper Sandler Companies during the third quarter worth $26,000. DHJJ Financial Advisors Ltd. acquired a new position in Piper Sandler Companies during the third quarter worth $29,000. Steward Partners Investment Advisory LLC lifted its stake in Piper Sandler Companies by 328.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in Piper Sandler Companies by 67.0% during the first quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 138 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in Piper Sandler Companies by 706.0% during the second quarter. Stephens Inc. AR now owns 403 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 353 shares in the last quarter. 67.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PIPR. StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Wednesday, January 10th. Northland Securities cut Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 19th. Finally, The Goldman Sachs Group increased their price objective on Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th.

Read Our Latest Stock Analysis on PIPR

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 19,987 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the sale, the insider now directly owns 176,227 shares in the company, valued at $32,408,145.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 204 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $170.04, for a total transaction of $34,688.16. Following the transaction, the president now owns 19,767 shares of the company’s stock, valued at $3,361,180.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan J. Doyle sold 19,987 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the transaction, the insider now directly owns 176,227 shares in the company, valued at approximately $32,408,145.30. The disclosure for this sale can be found here. Insiders have sold a total of 51,123 shares of company stock worth $9,236,744 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Piper Sandler Companies Trading Up 1.5 %

Shares of NYSE PIPR opened at $186.72 on Monday. The firm has a market capitalization of $3.31 billion, a PE ratio of 37.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.33. Piper Sandler Companies has a 12-month low of $120.97 and a 12-month high of $192.67. The company has a fifty day moving average of $174.65.

Piper Sandler Companies (NYSE:PIPRGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $1.42. Piper Sandler Companies had a return on equity of 13.43% and a net margin of 6.33%. The company had revenue of $457.39 million for the quarter, compared to analysts’ expectations of $370.12 million. During the same period last year, the firm earned $3.33 earnings per share. Piper Sandler Companies’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts forecast that Piper Sandler Companies will post 11.17 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Monday, March 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, March 1st. Piper Sandler Companies’s dividend payout ratio is presently 48.58%.

About Piper Sandler Companies

(Free Report)

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 and institutional sales, trading, and research services for various equity and fixed income products.

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Institutional Ownership by Quarter for Piper Sandler Companies (NYSE:PIPR)

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