Piper Sandler Companies $PIPR Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Piper Sandler Companies by 158.9% during the first quarter, now owning 17,557 shares valued at approximately $4.3 million.
• Piper Sandler Companies reported earnings of $2.95 per share for the most recent quarter, significantly exceeding analyst expectations of $1.99, along with a revenue of $405.39 million.
• The company raised its quarterly dividend from $0.65 to $0.70 per share, which reflects a positive shift in its dividend payout policy.

Hsbc Holdings PLC increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 158.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,557 shares of the financial services provider's stock after acquiring an additional 10,775 shares during the period. Hsbc Holdings PLC owned approximately 0.10% of Piper Sandler Companies worth $4,296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 worth $27,000 after purchasing an additional 62 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Piper Sandler Companies during the 1st quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of 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 in the last quarter. Park Square Financial Group LLC acquired a new stake in Piper Sandler Companies in the 4th quarter valued at $45,000. Finally, Lazard Asset Management LLC purchased a new stake in Piper Sandler Companies in the 4th quarter worth $51,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PIPR shares. 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 report on Thursday, July 10th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th. Finally, Wall Street Zen cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $312.50.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR traded down $4.95 during midday trading on Friday, hitting $333.48. The company's stock had a trading volume of 96,564 shares, compared to its average volume of 133,523. The stock has a market cap of $5.90 billion, a P/E ratio of 28.14 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. The business's 50 day moving average is $310.97.

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

Piper Sandler Companies Increases Dividend

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

Insider Activity

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 3,536 shares of the business's stock in a transaction dated 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 in the company, valued at $42,111,204.40. The trade was a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott C. Taylor sold 2,600 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 16,319 shares of the company's stock, valued at approximately $5,219,795.34. This trade represents a 13.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,136 shares of company stock worth $8,380,342. 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.