Stephens Investment Management Group LLC Cuts Position in Piper Sandler Companies (NYSE:PIPR)

by · The Markets Daily

Stephens Investment Management Group LLC trimmed its holdings in shares of Piper Sandler Companies (NYSE:PIPR – Free Report) by 42.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,584 shares of the financial services provider’s stock after selling 151,217 shares during the period. Stephens Investment Management Group LLC owned about 1.17% of Piper Sandler Companies worth $58,914,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in shares of Piper Sandler Companies by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after buying an additional 46 shares during the period. Xponance Inc. grew its position in Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 48 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 54 shares during the period. CWM LLC lifted its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Piper Sandler Companies by 5.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,317 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 67 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the transaction, the general counsel now directly owns 15,065 shares in the company, valued at $3,867,637.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock valued at $3,936,252 in the last quarter. Insiders own 3.00% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $283.64 on Friday. Piper Sandler Companies has a 1-year low of $137.20 and a 1-year high of $306.10. The firm has a fifty day moving average of $289.85 and a two-hundred day moving average of $274.58. The firm has a market cap of $5.02 billion, a P/E ratio of 30.30 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.18%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday.

Get Our Latest Stock Analysis on Piper Sandler Companies

Piper Sandler Companies Profile

(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 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.

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