Dorsey & Whitney Trust CO LLC Has $2.04 Million Stock Position in Piper Sandler Companies $PIPR

Dorsey & Whitney Trust CO LLC lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,251 shares of the financial services provider’s stock after purchasing an additional 93 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Piper Sandler Companies were worth $2,043,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its holdings in Piper Sandler Companies by 131.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock worth $27,000 after buying an additional 62 shares during the last quarter. von Borstel & Associates Inc. bought a new position in shares of Piper Sandler Companies in the 1st quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Piper Sandler Companies by 495.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Piper Sandler Companies during the 4th quarter worth about $45,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 3,536 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $316.84, for a total transaction of $1,120,346.24. Following the transaction, the insider directly owned 132,910 shares of the company’s stock, valued at approximately $42,111,204.40. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John W. Geelan sold 2,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $322.69, for a total transaction of $645,380.00. Following the completion of the sale, the general counsel directly owned 12,645 shares of the company’s stock, valued at $4,080,415.05. This represents a 13.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,136 shares of company stock valued at $8,380,342. 2.70% of the stock is currently owned by insiders.

Piper Sandler Companies Stock Down 0.6%

Piper Sandler Companies stock opened at $321.7670 on Thursday. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $351.80. The company has a 50 day moving average price of $299.87. The firm has a market capitalization of $5.69 billion, a P/E ratio of 27.15 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.96. The business had revenue of $405.39 million during the quarter, compared to analysts’ expectations of $349.40 million. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $2.52 EPS. Sell-side analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders 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 is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 21.94%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PIPR shares. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. Finally, Wolfe Research raised Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 target price on the stock in a report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $312.50.

About Piper Sandler Companies

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.