HB Wealth Management LLC Invests $207,000 in Piper Sandler Companies (NYSE:PIPR)

HB Wealth Management LLC acquired a new stake in Piper Sandler Companies (NYSE:PIPR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 835 shares of the financial services provider's stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. LPL Financial LLC boosted its stake in Piper Sandler Companies by 62.5% in the fourth quarter. LPL Financial LLC now owns 5,617 shares of the financial services provider's stock valued at $1,685,000 after acquiring an additional 2,161 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Piper Sandler Companies by 22.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,761 shares of the financial services provider's stock worth $828,000 after purchasing an additional 509 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Piper Sandler Companies by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,887 shares of the financial services provider's stock worth $2,666,000 after purchasing an additional 678 shares in the last quarter. Arete Wealth Advisors LLC boosted its position in shares of Piper Sandler Companies by 13.2% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,250 shares of the financial services provider's stock worth $375,000 after purchasing an additional 146 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Piper Sandler Companies by 29.5% during the fourth quarter. Wells Fargo & Company MN now owns 11,483 shares of the financial services provider's stock worth $3,445,000 after purchasing an additional 2,613 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR traded down $2.62 during midday trading on Thursday, reaching $320.21. 43,608 shares of the company were exchanged, compared to its average volume of 144,473. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $351.80. The stock's fifty day moving average price is $285.95. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 27.09 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.96. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.71%. The business had revenue of $405.39 million for the quarter, compared to analyst estimates of $349.40 million. During the same period last year, the business posted $2.52 earnings per share. The firm's quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 29th. This is an increase from Piper Sandler Companies's previous quarterly dividend of $0.65. Piper Sandler Companies's dividend payout ratio (DPR) is presently 23.63%.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 3,536 shares of Piper Sandler Companies stock in a transaction on Monday, August 4th. The shares were sold at an average price of $316.84, for a total value of $1,120,346.24. Following the sale, the insider directly owned 132,910 shares in the company, valued at approximately $42,111,204.40. The trade was a 2.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target on the stock in a research report on Thursday, July 10th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

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.