Piper Sandler Companies $PIPR Stake Lifted by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. increased its stake in Piper Sandler Companies by 140.7% during the first quarter, owning 9,974 shares worth approximately $2.47 million as of the quarter's end.
• Piper Sandler reported a quarterly EPS of $2.95, exceeding estimates by $0.96, with revenues of $405.39 million, up 13.4% year-over-year.
• The company recently declared a quarterly dividend of $0.70 per share, an increase from the previous dividend of $0.65, reflecting a positive outlook on their financial health.

EFG Asset Management North America Corp. raised its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 140.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,974 shares of the financial services provider's stock after acquiring an additional 5,831 shares during the quarter. EFG Asset Management North America Corp. owned approximately 0.06% of Piper Sandler Companies worth $2,469,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PIPR. MassMutual Private Wealth & Trust FSB boosted its stake in Piper Sandler Companies by 131.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Piper Sandler Companies during the 1st quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted 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 acquiring an additional 104 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in Piper Sandler Companies during the 1st quarter valued at $37,000. Finally, Park Square Financial Group LLC bought a new position in Piper Sandler Companies during the 4th quarter valued at $45,000. 72.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 target price on the stock in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Piper Sandler Companies has a consensus rating of "Hold" and an average price target of $312.50.

Insider Activity

In related news, insider Jonathan J. Doyle sold 3,536 shares of the 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 sale, the insider owned 132,910 shares of the company's stock, valued at $42,111,204.40. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad R. Abraham sold 8,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $323.71, for a total transaction of $2,589,680.00. Following the completion of the sale, the chief executive officer directly owned 53,558 shares in the company, valued at approximately $17,337,260.18. This trade represents a 13.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,136 shares of company stock worth $8,380,342 in the last 90 days. 2.70% of the stock is currently owned by insiders.

Piper Sandler Companies Stock Down 1.1%

Shares of PIPR stock traded down $3.81 during trading hours on Friday, reaching $327.70. The stock had a trading volume of 94,416 shares, compared to its average volume of 114,483. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80. The company's 50-day simple moving average is $316.38. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 27.65 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 for the quarter, topping analysts' consensus estimates of $1.99 by $0.96. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The business had revenue of $405.39 million for the quarter, compared to analysts' expectations of $349.40 million. During the same quarter last year, the company earned $2.52 EPS. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company 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 is a boost from Piper Sandler Companies's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies's dividend 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.