Swiss National Bank Trims Holdings in Piper Sandler Companies $PIPR

Swiss National Bank lowered its holdings in Piper Sandler Companies (NYSE:PIPR) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,900 shares of the financial services provider’s stock after selling 600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Piper Sandler Companies worth $9,422,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CENTRAL TRUST Co bought a new stake in Piper Sandler Companies in the second quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted 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 valued at $31,000 after purchasing an additional 104 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Piper Sandler Companies by 48.1% during the second quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after buying an additional 37 shares during the period. Wealth Preservation Advisors LLC bought a new position in Piper Sandler Companies in the first quarter worth about $37,000. Finally, Geneos Wealth Management Inc. raised its stake in Piper Sandler Companies by 46.6% in the first 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. 72.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total transaction of $825,825.00. Following the completion of the sale, the president directly owned 2,896 shares in the company, valued at approximately $956,635.68. The trade was a 46.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $324.69, for a total value of $443,851.23. Following the transaction, the chief financial officer directly owned 10,425 shares in the company, valued at $3,384,893.25. The trade was a 11.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.70% of the company’s stock.

Piper Sandler Companies Stock Up 0.3%

Shares of PIPR opened at $335.90 on Friday. The company has a market capitalization of $5.94 billion, a P/E ratio of 28.35 and a beta of 1.50. The firm has a 50 day moving average of $335.97 and a 200 day moving average of $312.06. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $374.77.

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

Piper Sandler Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.