Burney Co. Decreases Stock Position in Piper Sandler Companies (NYSE:PIPR)

Burney Co. reduced its stake in Piper Sandler Companies (NYSE:PIPR) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,875 shares of the financial services provider’s stock after selling 96 shares during the period. Burney Co.’s holdings in Piper Sandler Companies were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PIPR. Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter worth approximately $29,000. Parallel Advisors LLC increased its stake in shares of Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after buying an additional 64 shares during the period. Mather Group LLC. bought a new position in shares of Piper Sandler Companies during the first quarter valued at approximately $64,000. Finally, Quadrant Capital Group LLC lifted its stake in Piper Sandler Companies by 21.1% in the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 0.4 %

Shares of PIPR stock traded up $0.98 during midday trading on Thursday, reaching $268.35. 73,374 shares of the stock were exchanged, compared to its average volume of 108,523. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $280.45. The firm has a market cap of $4.75 billion, a PE ratio of 45.97 and a beta of 1.41. The company’s 50 day moving average is $262.66 and its two-hundred day moving average is $237.75.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 earnings per share. As a group, equities analysts expect that Piper Sandler Companies will post 11.53 EPS 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 13th. Shareholders of record on Thursday, August 29th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.97%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 29th. Piper Sandler Companies’s payout ratio is 44.22%.

Insider Buying and Selling

In other news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the transaction, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. The disclosure for this sale can be found here. Insiders have sold a total of 16,276 shares of company stock worth $3,936,252 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

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.