1,060 Shares in Piper Sandler Companies $PIPR Acquired by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc bought a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,060 shares of the financial services provider’s stock, valued at approximately $295,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in Piper Sandler Companies by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 82,549 shares of the financial services provider’s stock worth $22,944,000 after purchasing an additional 4,421 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Piper Sandler Companies by 10.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,437 shares of the financial services provider’s stock valued at $2,067,000 after acquiring an additional 733 shares in the last quarter. MQS Management LLC acquired a new stake in Piper Sandler Companies in the second quarter valued at approximately $268,000. State of New Jersey Common Pension Fund D grew its position in Piper Sandler Companies by 8.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 7,496 shares of the financial services provider’s stock valued at $2,083,000 after acquiring an additional 592 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in Piper Sandler Companies by 195.3% in the second quarter. First Citizens Bank & Trust Co. now owns 2,658 shares of the financial services provider’s stock valued at $739,000 after acquiring an additional 1,758 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $346.35 on Wednesday. The stock has a market cap of $6.13 billion, a PE ratio of 29.23 and a beta of 1.45. The firm’s 50 day simple moving average is $340.87. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $1.99 by $0.96. The company 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 business’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.52 EPS. Equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.8%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is 23.63%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PIPR shares. Wolfe Research raised shares of 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. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Piper Sandler Companies currently has an average rating of “Hold” and a consensus target price of $312.50.

Insider Transactions at Piper Sandler Companies

In related news, General Counsel John W. Geelan sold 2,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $322.69, for a total transaction of $645,380.00. Following the transaction, the general counsel directly owned 12,645 shares in the company, valued at $4,080,415.05. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott C. Taylor sold 2,600 shares of the firm’s stock in a transaction 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 transaction, the director owned 16,319 shares in the company, valued at $5,219,795.34. This trade represents a 13.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 26,136 shares of company stock valued at $8,380,342. Company insiders own 2.70% of the company’s stock.

Piper Sandler Companies 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.