Park Avenue Securities LLC buys 161 shares of Piper Sandler Companies (NYSE:PIPR)

Park Avenue Securities LLC boosted its stake in Piper Sandler Companies (NYSE:PIPR – Free Report) by 6.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,735 shares of the financial services provider’s stock after acquiring an additional 161 shares during the period. Park Avenue Securities LLC’s holdings in Piper Sandler Companies were worth $629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their positions in the stock. Norges Bank bought a new stake in Piper Sandler Companies in the 4th quarter valued at $21,023,000. Mairs & Power Inc. raised its holdings in shares of Piper Sandler Companies by 210.8% in the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock valued at $21,526,000 after buying an additional 83,495 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after purchasing an additional 59,915 shares during the period. SageView Advisory Group LLC bought a new position in shares of Piper Sandler Companies in the first quarter worth about $10,970,000. Finally, Edgestream Partners LP raised its position in Piper Sandler Companies by 295.6% in the first quarter. Edgestream Partners LP now owns 29,404 shares of the financial services provider’s stock valued at $5,836,000 after purchasing an additional 21,972 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s shares.

Piper Sandler Companies trade up 1.4%

Shares of PIPR opened at $258.79 on Friday. The company’s fifty day moving average price is $254.80 and its two hundred day moving average price is $228.23. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $280.45. The firm has a market cap of $4.58 billion, a P/E ratio of 44.01 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR – Get Free Report ) last released its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 15.54% and a net margin of 9.23%. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. In the same quarter last year, the company earned $1.13 per share. Piper Sandler Companies’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividends

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, August 29. This represents a dividend of $2.60 on an annualized basis and a dividend yield of 1.00%. This is an increase from Piper Sandler Companies’ previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Indoor activity

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the sale, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other news, Chairman Debbra L. Schoneman sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $212.29, for a total value of $844,489.62. Following the completion of the sale, the chairman now directly owns 44,105 shares of the company’s stock, valued at $9,363,050.45. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,484 shares of company stock worth $4,525,759. 3.00% of shares are held by insiders.

Analysts on Wall Street are forecasting an increase

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

See Piper Sandler Company’s latest research report

Piper Sandler Companies Company Profile

(Free report)

Piper Sandler Companies operates as an investment bank and institutional securities firm serving corporations, private equity groups, public entities, not-for-profit entities and institutional investors in the United States and internationally. Provides investment banking and institutional sales, trading and research services for various equity and fixed income products; advisory services such as mergers and acquisitions, private equity and debt placements and debt and restructuring advice; raise capital through equity and debt financing; subscribes to municipal broadcasts; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.

See Also

Want to see what other hedge funds own PIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Piper Sandler Companies (NYSE:PIPR – Free Report).

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