Dynamic Technology Lab Private Ltd Sells 3,526 Shares of 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 reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 61.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PIPR. MassMutual Private Wealth & Trust FSB increased its stake in shares of Piper Sandler Companies by 131.9% in 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 in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Piper Sandler Companies in the first quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Piper Sandler Companies by 495.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider's stock valued at $31,000 after buying an additional 104 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Piper Sandler Companies in the first quarter valued at $37,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Piper Sandler Companies in the fourth quarter valued at $45,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Chad R. Abraham sold 10,000 shares of Piper Sandler Companies stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $319.33, for a total transaction of $3,193,300.00. Following the transaction, the chief executive officer owned 53,558 shares in the company, valued at $17,102,676.14. The trade was a 15.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel John W. Geelan sold 2,000 shares of Piper Sandler Companies stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $322.69, for a total value of $645,380.00. Following the transaction, the general counsel owned 12,645 shares in the company, valued at $4,080,415.05. This trade represents a 13.66% 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 valued at $8,380,342 over the last 90 days. 2.70% of the stock is owned by corporate insiders.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock traded down $4.30 during trading on Tuesday, hitting $345.34. 181,799 shares of the company were exchanged, compared to its average volume of 105,417. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 29.14 and a beta of 1.45. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $352.34. The stock has a fifty day moving average price of $323.82.

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

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was 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 is presently 23.63%.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of research reports. Wall Street Zen lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wolfe Research raised Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 target price for the company in a research note on Thursday, July 10th. One investment 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 an average rating of "Hold" and an average price target of $312.50.

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.