30,933 Piper Sandler Companies $PIPR Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP reduced its Piper Sandler Companies stake by 90% in the second quarter, selling 30,933 shares and retaining 3,427 shares valued at approximately $248,000.
• Piper Sandler reported quarterly EPS of $1.04, exceeding the $0.88 analyst consensus, while revenue rose 24.9% year over year to $491.14 million.
• PIPR shares opened at $65.32, near their 52-week low, while analysts maintain a consensus “Hold” rating with an average price target of $90.81; the company also pays a $0.20 quarterly dividend.

Corient Private Wealth LP cut its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 90.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,427 shares of the company's stock after selling 30,933 shares during the period. Corient Private Wealth LP's holdings in Piper Sandler Companies were worth $248,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PIPR. HB Wealth Management LLC bought a new stake in shares of Piper Sandler Companies in the 2nd quarter worth approximately $302,000. Concurrent Investment Advisors LLC acquired a new position in Piper Sandler Companies during the 2nd quarter valued at about $260,000. AXQ Capital LP bought a new position in Piper Sandler Companies in the 2nd quarter worth about $209,000. Round Rock Advisors LLC bought a new position in Piper Sandler Companies in the 2nd quarter worth about $354,000. Finally, Nykredit A S acquired a new stake in shares of Piper Sandler Companies in the second quarter valued at approximately $247,000. Institutional investors and hedge funds own 72.79% of the company's stock.

Piper Sandler Companies Stock Down 0.1%

PIPR stock opened at $65.32 on Monday. The company has a 50-day simple moving average of $74.15 and a 200 day simple moving average of $77.29. The company has a market capitalization of $4.62 billion, a P/E ratio of 15.14, a PEG ratio of 1.51 and a beta of 1.43. Piper Sandler Companies has a fifty-two week low of $62.96 and a fifty-two week high of $95.07.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.16. The company had revenue of $491.14 million for the quarter, compared to the consensus estimate of $445.28 million. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. Piper Sandler Companies's revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.92 EPS. Equities analysts anticipate that Piper Sandler Companies will post 4.51 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a $0.20 dividend. The ex-dividend date was Friday, August 28th. This represents a $0.80 annualized dividend and a yield of 1.2%. Piper Sandler Companies's payout ratio is 18.52%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PIPR. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Piper Sandler Companies in a report on Monday, August 17th. The Goldman Sachs Group set a $80.00 target price on Piper Sandler Companies and gave the company a "buy" rating in a research report on Thursday. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Piper Sandler Companies presently has a consensus rating of "Hold" and a consensus price target of $90.81.

Piper Sandler Companies Profile

Piper Sandler Companies NYSE: PIPR is a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.

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