3,674 Shares in Piper Sandler Companies $PIPR Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP invested $910,000 in Piper Sandler Companies, acquiring 3,674 shares during the 1st quarter, according to their recent SEC filing.
• Institutional ownership of Piper Sandler Companies is at 72.79%, with several investors increasing their stakes during the same quarter.
• Piper Sandler declared a quarterly dividend of $0.70, up from $0.65, reflecting an annualized yield of 0.9% to shareholders of record as of August 29.

Trexquant Investment LP acquired a new stake in Piper Sandler Companies (NYSE:PIPR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,674 shares of the financial services provider's stock, valued at approximately $910,000.

A number of other institutional investors have also recently made changes to their positions in PIPR. Stifel Financial Corp grew its holdings in Piper Sandler Companies by 227.0% during the 4th quarter. Stifel Financial Corp now owns 2,619 shares of the financial services provider's stock worth $786,000 after acquiring an additional 1,818 shares in the last quarter. Jane Street Group LLC grew its holdings in Piper Sandler Companies by 22.3% during the 4th quarter. Jane Street Group LLC now owns 11,028 shares of the financial services provider's stock worth $3,308,000 after acquiring an additional 2,010 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Piper Sandler Companies by 4.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock worth $418,000 after acquiring an additional 56 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Piper Sandler Companies by 3.3% during the 4th quarter. Ameriprise Financial Inc. now owns 58,648 shares of the financial services provider's stock worth $17,591,000 after acquiring an additional 1,867 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Piper Sandler Companies by 140.2% during the 4th quarter. Baird Financial Group Inc. now owns 711 shares of the financial services provider's stock worth $213,000 after acquiring an additional 415 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PIPR shares. Wolfe Research upgraded 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 cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $312.50.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock traded down $0.52 during trading hours on Friday, hitting $346.17. The company had a trading volume of 151,632 shares, compared to its average volume of 100,299. The company's 50-day moving average price is $321.40. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80. The firm has a market cap of $6.12 billion, a P/E ratio of 29.21 and a beta of 1.45.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $349.40 million. During the same quarter in the prior year, the business posted $2.52 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

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

Insider Activity at Piper Sandler Companies

In other news, Director Scott C. Taylor sold 2,600 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $319.86, for a total value of $831,636.00. Following the completion of the transaction, the director owned 16,319 shares in the company, valued at approximately $5,219,795.34. This represents a 13.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chad R. Abraham sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $319.33, for a total transaction of $3,193,300.00. Following the completion of the transaction, the chief executive officer owned 53,558 shares of the company's stock, valued at approximately $17,102,676.14. The trade was a 15.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,136 shares of company stock worth $8,380,342. Corporate insiders own 2.70% of the company's stock.

About Piper Sandler Companies

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.