Squarepoint Ops LLC Sells 53,942 Shares of Piper Sandler Companies $PIPR

Key Points

• Squarepoint Ops LLC reduced its Piper Sandler stake by 22.4% in the second quarter, selling 53,942 shares and retaining 186,993 shares worth approximately $13.5 million. Institutional investors collectively own 72.79% of the company.
• Piper Sandler reported stronger-than-expected quarterly results, with EPS of $1.04 versus an $0.88 consensus estimate and revenue of $491.14 million, up 24.9% year over year.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $95.06 price target. The company also declared a quarterly dividend of $0.20 per share, representing a 1.0% yield.

Squarepoint Ops LLC cut its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 186,993 shares of the company's stock after selling 53,942 shares during the quarter. Squarepoint Ops LLC owned approximately 0.26% of Piper Sandler Companies worth $13,527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PIPR. EverSource Wealth Advisors LLC raised its position in shares of Piper Sandler Companies by 89.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 35 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in Piper Sandler Companies by 1,440.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company's stock worth $26,000 after purchasing an additional 72 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Piper Sandler Companies during the fourth quarter worth $28,000. UMB Bank n.a. lifted its stake in shares of Piper Sandler Companies by 55.2% in the 4th quarter. UMB Bank n.a. now owns 90 shares of the company's stock valued at $31,000 after purchasing an additional 32 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in Piper Sandler Companies by 296.5% in the first quarter. Sterling Capital Management LLC now owns 452 shares of the company's stock valued at $35,000 after buying an additional 338 shares during the period. Institutional investors own 72.79% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Piper Sandler Companies in a research report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $95.06.

Piper Sandler Companies Stock Performance

PIPR stock opened at $77.06 on Thursday. The company has a market capitalization of $5.45 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.40. Piper Sandler Companies has a 52-week low of $68.70 and a 52-week high of $95.07. The business has a 50-day simple moving average of $75.26 and a two-hundred day simple moving average of $77.71.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.88 by $0.16. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. The company had revenue of $491.14 million during the quarter, compared to the consensus estimate of $445.28 million. During the same quarter in the prior year, the company posted $2.92 earnings per share. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. As a group, sell-side analysts forecast that Piper Sandler Companies will post 4.51 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Piper Sandler Companies's dividend payout ratio is 18.52%.

Piper Sandler Companies Company Profile

Piper Sandler Companies NYSE: PIPR is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.

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