Intech Investment Management LLC Purchases 3,056 Shares of Piper Sandler Companies $PIPR

Key Points

• Intech Investment Management LLC increased its holdings in Piper Sandler Companies by 33.2%, owning 12,249 shares worth $3.03 million at the end of the last quarter.
• Recent insider trades include General Counsel John W. Geelan selling 2,000 shares, while CEO Chad R. Abraham sold 10,000 shares, reducing their positions by 13.66% and 15.73%, respectively.
• Piper Sandler has announced a quarterly dividend increase to $0.70 per share, up from $0.65, with an annualized payout ratio of 23.63%.

Intech Investment Management LLC lifted its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 33.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,249 shares of the financial services provider's stock after acquiring an additional 3,056 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Piper Sandler Companies worth $3,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Westwood Holdings Group Inc. lifted its holdings in shares of Piper Sandler Companies by 35.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider's stock worth $88,456,000 after acquiring an additional 92,527 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of Piper Sandler Companies by 0.8% during the 1st quarter. GW&K Investment Management LLC now owns 323,483 shares of the financial services provider's stock worth $80,114,000 after acquiring an additional 2,620 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Piper Sandler Companies by 16.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 250,507 shares of the financial services provider's stock worth $62,041,000 after acquiring an additional 35,953 shares during the period. Nuveen LLC bought a new stake in shares of Piper Sandler Companies during the 1st quarter worth approximately $49,826,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Piper Sandler Companies by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 156,751 shares of the financial services provider's stock worth $38,821,000 after acquiring an additional 992 shares during the period. Institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PIPR. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target for the company in a report on Thursday, July 10th. Wall Street Zen lowered shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $312.50.

Insider Buying and Selling at Piper Sandler Companies

In other news, Director Scott C. Taylor sold 2,600 shares of the firm'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 completion of the transaction, the director 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John W. Geelan sold 2,000 shares of the firm's stock in a transaction 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 transaction, the general counsel directly 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 sold a total of 26,136 shares of company stock worth $8,380,342 over the last ninety days. Insiders own 2.70% of the company's stock.

Piper Sandler Companies Stock Down 0.8%

Shares of Piper Sandler Companies stock traded down $3.07 on Friday, hitting $366.33. The stock had a trading volume of 269,879 shares, compared to its average volume of 122,079. The company has a 50 day moving average of $327.76. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $374.77. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 30.91 and a beta of 1.45.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.96. The company had revenue of $405.39 million during the quarter, compared to the consensus estimate of $349.40 million. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The firm's revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 earnings per share. On average, equities 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 declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from Piper Sandler Companies's previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. Piper Sandler Companies's payout ratio is 23.63%.

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.