Dynamic Technology Lab Private Ltd Cuts Stake in Piper Sandler Companies $PIPR

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Piper Sandler Companies by 61.3% during the first quarter, leaving them with 2,230 shares worth approximately $552,000.
• Piper Sandler Companies reported an earnings per share (EPS) of $2.95, exceeding analyst expectations of $1.99, alongside a revenue of $405.39 million for the quarter.
• The company announced a quarterly dividend of $0.70 per share, increasing its yield to 0.8%, with the dividend being paid on September 12th.

Dynamic Technology Lab Private Ltd lessened its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 61.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,230 shares of the financial services provider's stock after selling 3,526 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Piper Sandler Companies were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its position in Piper Sandler Companies by 131.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after buying an additional 62 shares during the period. von Borstel & Associates Inc. purchased a new stake in Piper Sandler Companies during the 1st quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Piper Sandler Companies by 495.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider's stock worth $31,000 after acquiring an additional 104 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in Piper Sandler Companies in the 1st quarter worth approximately $37,000. Finally, Park Square Financial Group LLC bought a new stake in Piper Sandler Companies in the fourth quarter valued at approximately $45,000. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Trading Up 0.3%

Shares of Piper Sandler Companies stock opened at $335.15 on Thursday. The firm's fifty day moving average is $319.28. The stock has a market cap of $5.93 billion, a P/E ratio of 28.28 and a beta of 1.45. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $351.80.

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, topping the consensus estimate of $1.99 by $0.96. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The firm had revenue of $405.39 million during the quarter, compared to analysts' expectations of $349.40 million. During the same period last year, the company posted $2.52 EPS. The company's quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.65. Piper Sandler Companies's payout ratio is presently 23.63%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. 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 report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $312.50.

Insider Transactions at Piper Sandler Companies

In other news, CEO Chad R. Abraham sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $319.33, for a total value of $3,193,300.00. Following the completion of the transaction, the chief executive officer owned 53,558 shares of the company's stock, valued at approximately $17,102,676.14. This represents a 15.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott C. Taylor sold 2,600 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $319.86, for a total value of $831,636.00. Following the completion of the transaction, the director owned 16,319 shares of the company's stock, valued at approximately $5,219,795.34. The trade was a 13.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,136 shares of company stock worth $8,380,342 over the last quarter. Insiders own 2.70% of the company's stock.

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.

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