Mitsubishi UFJ Asset Management Co. Ltd. Has $31,000 Stake in Piper Sandler Companies (NYSE:PIPR)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 495.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125 shares of the financial services provider’s stock after buying an additional 104 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Piper Sandler Companies were worth $31,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Piper Sandler Companies by 28.6% in the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 48 shares during the period. Lido Advisors LLC raised its position in shares of Piper Sandler Companies by 1.2% in the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock valued at $1,255,000 after acquiring an additional 49 shares during the period. M&T Bank Corp raised its position in shares of Piper Sandler Companies by 6.6% in the 1st quarter. M&T Bank Corp now owns 874 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 54 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 56 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Piper Sandler Companies by 131.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Transactions at Piper Sandler Companies

In related news, Director Scott C. Taylor sold 2,600 shares of Piper Sandler Companies stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $319.86, for a total value of $831,636.00. Following the sale, the director owned 16,319 shares of the company’s stock, valued at approximately $5,219,795.34. This trade represents a 13.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel John W. Geelan sold 2,000 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $322.69, for a total value of $645,380.00. Following the completion of the sale, the general counsel directly owned 12,645 shares in the company, valued at approximately $4,080,415.05. This represents a 13.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,136 shares of company stock worth $8,380,342 in the last 90 days. 2.70% of the stock is owned by corporate insiders.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $331.55 on Friday. The company has a 50 day simple moving average of $295.00. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $351.80. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 27.98 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.96. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%. The business had revenue of $405.39 million for the quarter, compared to analyst estimates of $349.40 million. During the same quarter last year, the firm earned $2.52 EPS. Piper Sandler Companies’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.65. Piper Sandler Companies’s payout ratio is 21.94%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PIPR shares. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. Finally, Wolfe Research upgraded Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price objective for the company in a research report on Thursday, July 10th.

Piper Sandler Companies Company Profile

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.