Vanguard Group Inc. Has $510.29 Million Position in Piper Sandler Companies $PIPR

Key Points

• Vanguard Group Inc. holds a significant position in Piper Sandler Companies, owning approximately 11.60% of shares worth $510.29 million as of its latest SEC filing.
• Piper Sandler's recent quarterly earnings showed an EPS of $2.95, beating analysts' expectations, along with a year-over-year revenue increase of 13.4%.
• The company announced an increase in its quarterly dividend from $0.65 to $0.70, reflecting a commitment to returning value to shareholders.

Vanguard Group Inc. reduced its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,060,460 shares of the financial services provider's stock after selling 3,130 shares during the quarter. Vanguard Group Inc. owned about 11.60% of Piper Sandler Companies worth $510,294,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Piper Sandler Companies by 28.6% in the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock worth $53,000 after purchasing an additional 48 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 1.2% in the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock valued at $1,255,000 after acquiring an additional 49 shares in the last quarter. M&T Bank Corp raised its stake in shares of Piper Sandler Companies by 6.6% in the 1st quarter. M&T Bank Corp now owns 874 shares of the financial services provider's stock worth $217,000 after buying an additional 54 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Piper Sandler Companies by 4.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock valued at $418,000 after buying an additional 56 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Piper Sandler Companies by 131.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after buying an additional 62 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 8,000 shares of Piper Sandler Companies stock in a transaction on 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 of the company's stock, valued at $17,337,260.18. The trade was a 13.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan J. Doyle sold 3,536 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $316.84, for a total transaction of $1,120,346.24. Following the completion of the sale, the insider owned 132,910 shares in the company, valued at $42,111,204.40. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,136 shares of company stock valued at $8,380,342. 2.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. 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 raised Piper Sandler Companies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

Piper Sandler Companies Trading Down 0.5%

Shares of NYSE PIPR traded down $1.48 during trading hours on Tuesday, reaching $324.21. The stock had a trading volume of 5,862 shares, compared to its average volume of 144,050. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80. The stock has a fifty day moving average price of $297.45. The company has a market capitalization of $5.74 billion, a P/E ratio of 27.42 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The financial services provider reported $2.95 earnings per share for the quarter, topping 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 company had revenue of $405.39 million during the quarter, compared to analyst estimates of $349.40 million. During the same quarter last year, the business posted $2.52 earnings per share. The company's revenue was up 13.4% on a year-over-year basis. Research analysts predict 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 will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 0.9%. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.65. Piper Sandler Companies's dividend payout ratio is presently 23.63%.

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.