Vanguard Group Inc. Purchases 9,030 Shares of Piper Sandler Companies (NYSE:PIPR)

Vanguard Group Inc. increased its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,935,235 shares of the financial services provider's stock after acquiring an additional 9,030 shares during the period. Vanguard Group Inc. owned about 10.93% of Piper Sandler Companies worth $281,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Piper Sandler Companies by 0.5% in the first quarter. BlackRock Inc. now owns 2,494,228 shares of the financial services provider's stock worth $327,369,000 after acquiring an additional 11,450 shares in the last quarter. State Street Corp boosted its position in Piper Sandler Companies by 4.1% during the second quarter. State Street Corp now owns 595,959 shares of the financial services provider's stock valued at $77,034,000 after buying an additional 23,704 shares during the period. Dimensional Fund Advisors LP boosted its position in Piper Sandler Companies by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 485,318 shares of the financial services provider's stock valued at $63,700,000 after buying an additional 1,895 shares during the period. Stephens Investment Management Group LLC boosted its position in Piper Sandler Companies by 2.4% during the second quarter. Stephens Investment Management Group LLC now owns 446,773 shares of the financial services provider's stock valued at $57,750,000 after buying an additional 10,433 shares during the period. Finally, Invesco Ltd. boosted its position in Piper Sandler Companies by 3.2% during the first quarter. Invesco Ltd. now owns 347,576 shares of the financial services provider's stock valued at $45,620,000 after buying an additional 10,771 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $190.72, for a total value of $914,502.40. Following the completion of the transaction, the president now directly owns 12,140 shares of the company's stock, valued at $2,315,340.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $190.72, for a total value of $914,502.40. Following the completion of the transaction, the president now directly owns 12,140 shares of the company's stock, valued at $2,315,340.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Debbra L. Schoneman sold 205 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $190.05, for a total transaction of $38,960.25. Following the completion of the transaction, the president now directly owns 16,935 shares of the company's stock, valued at $3,218,496.75. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock valued at $9,838,711 over the last three months. Corporate insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PIPR. StockNews.com upgraded shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a research report on Wednesday, February 28th. The Goldman Sachs Group upped their price target on shares of Piper Sandler Companies from $171.00 to $193.00 and gave the company a "buy" rating in a research report on Tuesday, December 19th. Northland Securities lowered shares of Piper Sandler Companies from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 19th. Finally, JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Wednesday, January 10th.

Piper Sandler Companies Stock Up 0.8 %

Shares of Piper Sandler Companies stock traded up $1.67 during trading on Friday, reaching $198.49. 105,300 shares of the stock were exchanged, compared to its average volume of 93,562. The stock's fifty day moving average is $191.99 and its 200 day moving average is $181.98. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 40.18 and a beta of 1.41. Piper Sandler Companies has a 1 year low of $120.97 and a 1 year high of $200.00.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.61 by $1.42. The company had revenue of $457.39 million during the quarter, compared to analyst estimates of $370.12 million. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. Piper Sandler Companies's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.33 earnings per share. Equities analysts forecast that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, March 1st. Piper Sandler Companies's payout ratio is currently 48.58%.

Piper Sandler Companies Profile

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.