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

HB Wealth Management LLC purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 835 shares of the financial services provider's stock, valued at approximately $207,000.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. increased its stake in Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock valued at $209,312,000 after buying an additional 102,426 shares during the last quarter. GW&K Investment Management LLC increased its stake in Piper Sandler Companies by 0.8% in the 1st quarter. GW&K Investment Management LLC now owns 323,483 shares of the financial services provider's stock valued at $80,114,000 after buying an additional 2,620 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in Piper Sandler Companies by 16.8% in the 1st quarter. Stephens Investment Management Group LLC now owns 250,507 shares of the financial services provider's stock valued at $62,041,000 after buying an additional 35,953 shares during the last quarter. Northern Trust Corp increased its stake in Piper Sandler Companies by 9.4% in the 4th quarter. Northern Trust Corp now owns 200,005 shares of the financial services provider's stock valued at $59,991,000 after buying an additional 17,120 shares during the last quarter. Finally, Systematic Financial Management LP increased its stake in Piper Sandler Companies by 1.8% in the 4th quarter. Systematic Financial Management LP now owns 199,842 shares of the financial services provider's stock valued at $59,943,000 after buying an additional 3,500 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th. Wolfe Research upgraded shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price objective on the stock in a research note on Thursday, July 10th.

Piper Sandler Companies Stock Up 0.9%

Shares of PIPR stock traded up $2.94 during midday trading on Tuesday, hitting $323.92. 177,261 shares of the company were exchanged, compared to its average volume of 173,401. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 27.34 and a beta of 1.50. The firm has a 50 day moving average price of $283.17. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $405.39 million during the quarter, compared to the consensus estimate of $349.40 million. During the same quarter in the previous year, the firm posted $2.52 EPS. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from Piper Sandler Companies's previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies's payout ratio is 21.94%.

Insider Buying and Selling 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 dated 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 owned 132,910 shares of the company's stock, valued at approximately $42,111,204.40. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by insiders.

Piper Sandler Companies Company 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.