Piper Sandler Companies $PIPR Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Piper Sandler stake by 5.1% in the third quarter, selling 22,366 shares; it still held 414,642 shares, valued at about $27.4 million.
• Piper Sandler reported quarterly EPS of $0.87, below the $0.93 consensus, while revenue fell 4.9% year over year to $456 million. Analysts’ average rating was “Hold,” with an average price target of $84.
• President Debbra Schoneman sold 39,708 shares for about $2.68 million, reducing her direct ownership by 77.16%.

Boston Trust Walden Corp lessened its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 414,642 shares of the company's stock after selling 22,366 shares during the period. Boston Trust Walden Corp owned about 0.59% of Piper Sandler Companies worth $27,354,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Piper Sandler Companies by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company's stock valued at $41,466,000 after acquiring an additional 2,967 shares during the period. Greenwich Wealth Management LLC raised its stake in shares of Piper Sandler Companies by 1.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 420,805 shares of the company's stock valued at $30,441,000 after buying an additional 4,036 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Piper Sandler Companies during the 2nd quarter worth about $13,753,000. WINTON GROUP Ltd bought a new position in shares of Piper Sandler Companies during the 2nd quarter worth about $9,445,000. Finally, Moody Aldrich Partners LLC boosted its position in shares of Piper Sandler Companies by 4.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,105 shares of the company's stock valued at $4,955,000 after acquiring an additional 3,020 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Piper Sandler Companies in a research report on Monday, August 17th. The Goldman Sachs Group set a $80.00 price objective on Piper Sandler Companies and gave the company a "buy" rating in a report on Thursday, October 1st. Zacks Research lowered Piper Sandler Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 13th. Finally, Bank of America restated an "underperform" rating and set a $69.00 target price on shares of Piper Sandler Companies in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $84.00.

Insider Activity at Piper Sandler Companies

In other news, President Debbra Schoneman sold 39,708 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $67.38, for a total value of $2,675,525.04. Following the completion of the sale, the president directly owned 11,752 shares in the company, valued at approximately $791,849.76. This trade represents a 77.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.10% of the company's stock.

Piper Sandler Companies Stock Down 4.7%

Shares of PIPR stock opened at $66.93 on Friday. Piper Sandler Companies has a 12-month low of $61.35 and a 12-month high of $95.07. The company has a market capitalization of $4.73 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.31 and a beta of 1.39. The firm has a 50-day moving average price of $69.27 and a 200 day moving average price of $76.70.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.06). Piper Sandler Companies had a return on equity of 21.11% and a net margin of 14.53%. The firm had revenue of $456.04 million for the quarter, compared to analyst estimates of $467.39 million. During the same period in the previous year, the business posted $3.82 EPS. The business's quarterly revenue was down 4.9% on a year-over-year basis. As a group, research analysts expect that Piper Sandler Companies will post 4.10 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 24th. Piper Sandler Companies's dividend payout ratio is presently 18.82%.

Piper Sandler Companies Company Profile

Piper Sandler Companies NYSE: PIPR is an investment banking and institutional securities firm that provides financial services to corporations, financial institutions, public-sector entities, institutional investors and private equity firms. The company offers advisory and capital-raising services, including mergers and acquisitions, equity and debt offerings, restructuring and other strategic transactions.

Its institutional securities activities include equity research, sales and trading, fixed-income services and market-making.

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