Profund Advisors LLC Purchases Shares of 837 Piper Sandler Companies $PIPR

Profund Advisors LLC bought a new stake in Piper Sandler Companies (NYSE:PIPR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 837 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other institutional investors also recently bought and sold shares of the business. Future Fund LLC acquired a new stake in Piper Sandler Companies during the 2nd quarter worth about $737,000. Fox Run Management L.L.C. acquired a new stake in Piper Sandler Companies during the second quarter worth about $384,000. EFG Asset Management North America Corp. lifted its holdings in Piper Sandler Companies by 41.3% in the second quarter. EFG Asset Management North America Corp. now owns 14,096 shares of the financial services provider’s stock valued at $3,925,000 after acquiring an additional 4,122 shares during the period. Fullcircle Wealth LLC purchased a new stake in Piper Sandler Companies in the 2nd quarter worth approximately $204,000. Finally, Bank of Montreal Can grew its stake in shares of Piper Sandler Companies by 5.9% during the 2nd quarter. Bank of Montreal Can now owns 3,276 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 183 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Debbra L. Schoneman sold 2,500 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the completion of the sale, the president directly owned 2,896 shares in the company, valued at $956,635.68. This represents a 46.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PIPR shares. Zacks Research raised shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $368.00 to $386.00 in a research note on Monday, November 10th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Piper Sandler Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.50.

Piper Sandler Companies Trading Up 0.2%

NYSE:PIPR opened at $328.88 on Friday. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $374.77. The stock has a 50 day moving average of $340.36 and a two-hundred day moving average of $307.19. The firm has a market cap of $5.82 billion, a P/E ratio of 27.75 and a beta of 1.50.

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

Piper Sandler Companies Dividend Announcement

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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, November 25th. Piper Sandler Companies’s payout ratio is 21.10%.

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.