Deutsche Bank AG Lowers Stake in Piper Sandler Companies $PIPR

Key Points

• Deutsche Bank AG has reduced its stake in Piper Sandler Companies by 8.6%, owning approximately $3.51 million worth of shares as of the latest SEC filing.
• Piper Sandler Companies recently reported earnings of $2.95 per share, exceeding analysts' expectations, and a revenue increase of 13.4% year-over-year to $405.39 million.
• The company has increased its quarterly dividend to $0.70 from the previous $0.65, representing a 0.9% dividend yield for investors.

Deutsche Bank AG reduced its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,171 shares of the financial services provider's stock after selling 1,339 shares during the period. Deutsche Bank AG owned about 0.08% of Piper Sandler Companies worth $3,510,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PIPR. Wells Fargo & Company MN increased its stake in Piper Sandler Companies by 29.5% during the 4th quarter. Wells Fargo & Company MN now owns 11,483 shares of the financial services provider's stock worth $3,445,000 after buying an additional 2,613 shares during the period. Raymond James Financial Inc. purchased a new stake in Piper Sandler Companies during the 4th quarter worth approximately $7,464,000. Barclays PLC increased its stake in Piper Sandler Companies by 10.9% during the 4th quarter. Barclays PLC now owns 35,852 shares of the financial services provider's stock worth $10,754,000 after buying an additional 3,524 shares during the period. Mariner LLC increased its stake in Piper Sandler Companies by 102.3% during the 4th quarter. Mariner LLC now owns 10,551 shares of the financial services provider's stock worth $3,165,000 after buying an additional 5,335 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in Piper Sandler Companies by 7.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 19,992 shares of the financial services provider's stock worth $6,006,000 after buying an additional 1,313 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Up 5.0%

Shares of NYSE:PIPR traded up $16.0330 during trading hours on Friday, reaching $336.0230. The stock had a trading volume of 168,197 shares, compared to its average volume of 152,702. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $351.80. The business's 50 day moving average is $302.78. The stock has a market cap of $5.94 billion, a PE ratio of 28.36 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, August 1st. The financial services provider reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.96. The firm had revenue of $405.39 million for the quarter, compared to the consensus estimate of $349.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The company's revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $2.52 EPS. Equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.70 dividend. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. Piper Sandler Companies's payout ratio is 21.94%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PIPR shares. Wall Street Zen raised shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. Finally, Wolfe Research raised 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 report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $312.50.

Insider Activity at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 3,536 shares of the 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 transaction, the insider directly owned 132,910 shares of the company's stock, valued at $42,111,204.40. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel John W. Geelan sold 2,000 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $322.69, for a total transaction of $645,380.00. Following the completion of the transaction, the general counsel directly owned 12,645 shares in the company, valued at $4,080,415.05. This trade represents a 13.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,136 shares of company stock valued at $8,380,342. Corporate insiders own 2.70% of the company's stock.

About Piper Sandler Companies

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.