Bank of New York Mellon Corp Has $43.29 Million Stock Position in Piper Sandler Companies $PIPR

Bank of New York Mellon Corp lowered its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 155,743 shares of the financial services provider’s stock after selling 1,008 shares during the period. Bank of New York Mellon Corp’s holdings in Piper Sandler Companies were worth $43,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Piper Sandler Companies by 495.2% during the first 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 in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Piper Sandler Companies by 48.1% in the second quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 37 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in Piper Sandler Companies in the 1st quarter worth approximately $37,000. Geneos Wealth Management Inc. lifted its holdings in Piper Sandler Companies by 46.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider’s stock worth $42,000 after buying an additional 54 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in Piper Sandler Companies by 80.3% in the 1st quarter. IFP Advisors Inc now owns 247 shares of the financial services provider’s stock valued at $63,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Activity

In other news, President Debbra L. Schoneman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total transaction of $825,825.00. Following the sale, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. This trade represents a 46.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $338.94 on Thursday. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $374.77. The stock has a market cap of $6.00 billion, a P/E ratio of 28.60 and a beta of 1.50. The firm has a 50 day moving average price of $340.40 and a 200 day moving average price of $305.97.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The company had revenue of $455.31 million for the quarter, compared to analyst estimates of $408.40 million. During the same period last year, the business posted $2.57 earnings per share. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. Analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Piper Sandler Companies’s payout ratio is presently 21.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their target price for the company from $368.00 to $386.00 in a research note on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Piper Sandler Companies presently has an average rating of “Moderate Buy” and an average target price of $362.50.

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.