Fluent Financial LLC Buys New Stake in Piper Sandler Companies $PIPR

Key Points

• Fluent Financial LLC acquired a new stake in Piper Sandler Companies, purchasing 6,313 shares valued at approximately $1.76 million during Q2.
• Piper Sandler Companies recently reported a quarterly earnings beat, with $2.95 EPS compared to estimates of $1.99, and a revenue of $405.39 million, exceeding expectations of $349.40 million.
• The company announced an increase in its quarterly dividend from $0.65 to $0.70 per share, reflecting stronger financial performance.

Fluent Financial LLC purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,313 shares of the financial services provider's stock, valued at approximately $1,755,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. von Borstel & Associates Inc. acquired a new position in shares of Piper Sandler Companies during the first quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake 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 valued at $31,000 after buying an additional 104 shares during the period. AdvisorNet Financial Inc raised its position in shares of Piper Sandler Companies by 48.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider's stock worth $32,000 after buying an additional 37 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in shares of Piper Sandler Companies during the 1st quarter worth about $37,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider's stock worth $42,000 after acquiring an additional 54 shares during the period. Institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

PIPR has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Piper Sandler Companies in a research note on Wednesday. Wolfe Research upgraded Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target on the stock in a research report on Thursday, July 10th. Zacks Research downgraded Piper Sandler Companies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Finally, Wall Street Zen cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $312.50.

Piper Sandler Companies Stock Down 0.1%

Shares of NYSE PIPR opened at $339.76 on Thursday. The stock has a fifty day moving average of $337.02. The firm has a market cap of $6.01 billion, a PE ratio of 28.67 and a beta of 1.45. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $374.77.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.96. The business 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%.Piper Sandler Companies's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $2.52 EPS. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a $0.70 dividend. This represents a $2.80 annualized dividend 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 of this dividend was Friday, August 29th. Piper Sandler Companies's payout ratio is 23.63%.

Insider Activity

In other Piper Sandler Companies news, Director Scott C. Taylor sold 2,600 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $319.86, for a total transaction of $831,636.00. Following the sale, the director directly owned 16,319 shares of the company's stock, valued at $5,219,795.34. The trade was a 13.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $645,380.00. Following the completion of the sale, the general counsel owned 12,645 shares of the company's stock, valued at $4,080,415.05. The trade was a 13.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,136 shares of company stock worth $8,380,342 over the last three months. 2.70% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding PIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piper Sandler Companies (NYSE:PIPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.