Voya Investment Management LLC Purchases 6,835 Shares of Piper Sandler Companies $PIPR

Key Points

• Voya Investment Management has increased its stake in Piper Sandler Companies by 5.4%, acquiring an additional 6,835 shares, bringing its total shareholding to 133,101.
• Piper Sandler recently announced a **dividend increase** from $0.65 to $0.70 per share, with a yield of 0.8% and a payout ratio of 23.63%.
• Analysts have mixed ratings on Piper Sandler, with Wolfe Research upgrading it to “outperform” and setting a target price of **$339**, while others have maintained a “hold” rating.

Voya Investment Management LLC lifted its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,101 shares of the financial services provider's stock after acquiring an additional 6,835 shares during the period. Voya Investment Management LLC owned about 0.75% of Piper Sandler Companies worth $32,964,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 28.6% during the first 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 period. M&T Bank Corp lifted its stake in Piper Sandler Companies by 6.6% in the first quarter. M&T Bank Corp now owns 874 shares of the financial services provider's stock valued at $217,000 after acquiring an additional 54 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Piper Sandler Companies by 46.6% in the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in 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 acquiring an additional 62 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Piper Sandler Companies by 5.2% in the first quarter. Xponance Inc. now owns 1,305 shares of the financial services provider's stock valued at $323,000 after acquiring an additional 64 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Up 3.9%

Shares of Piper Sandler Companies stock traded up $13.81 on Thursday, reaching $368.16. The stock had a trading volume of 54,633 shares, compared to its average volume of 141,246. The business has a 50-day moving average price of $325.13. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $367.82. The company has a market capitalization of $6.51 billion, a PE ratio of 31.07 and a beta of 1.45.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $349.40 million. During the same period in the previous year, the company earned $2.52 earnings per share. Piper Sandler Companies's revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts forecast 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 was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were 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 was Friday, August 29th. This represents a $2.80 annualized dividend and a yield of 0.8%. Piper Sandler Companies's payout ratio is presently 23.63%.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 8,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $323.71, for a total value of $2,589,680.00. Following the sale, the chief executive officer owned 53,558 shares of the company's stock, valued at $17,337,260.18. The trade was a 13.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan J. Doyle sold 3,536 shares of the business's stock in a transaction 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 directly owned 132,910 shares in the company, valued at $42,111,204.40. This trade represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,136 shares of company stock worth $8,380,342. Corporate insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PIPR shares. Wall Street Zen cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wolfe Research upgraded shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 target price for the company in a research note on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $312.50.

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.