Entropy Technologies LP Invests $253,000 in Piper Sandler Companies (NYSE:PIPR)

Entropy Technologies LP purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,022 shares of the financial services provider's stock, valued at approximately $253,000.

Several other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of Piper Sandler Companies by 28.6% during the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock worth $53,000 after acquiring an additional 48 shares during the period. Lido Advisors LLC raised its holdings in shares of Piper Sandler Companies by 1.2% during the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock worth $1,255,000 after acquiring an additional 49 shares during the period. M&T Bank Corp raised its holdings in shares of Piper Sandler Companies by 6.6% during the 1st quarter. M&T Bank Corp now owns 874 shares of the financial services provider's stock worth $217,000 after acquiring an additional 54 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Piper Sandler Companies by 4.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock worth $418,000 after acquiring an additional 56 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Piper Sandler Companies by 131.9% in the 1st 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. Hedge funds and other institutional investors own 72.79% of the company's stock.

Insider Buying and Selling at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 3,536 shares of Piper Sandler Companies stock in a transaction that occurred 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 completion of the transaction, the insider owned 132,910 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel John W. Geelan sold 2,000 shares of Piper Sandler Companies stock in a transaction that occurred 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 owned 12,645 shares of the company's stock, 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. Over the last ninety days, insiders have sold 26,136 shares of company stock worth $8,380,342. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on PIPR shares. 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 report on Thursday, July 10th. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $331.55 on Friday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 27.98 and a beta of 1.50. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $351.80. The firm has a 50-day moving average of $295.00.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly 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 business had revenue of $405.39 million for the quarter, compared to analysts' expectations of $349.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.52 earnings per share. As a group, research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Piper Sandler Companies's previous quarterly dividend of $0.65. The ex-dividend date is Friday, August 29th. Piper Sandler Companies's dividend payout ratio (DPR) is presently 21.94%.

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.

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