Kesler Norman & Wride LLC Purchases New Shares in Piper Sandler Companies $PIPR

Kesler Norman & Wride LLC bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,509 shares of the financial services provider’s stock, valued at approximately $871,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. CENTRAL TRUST Co purchased a new position in Piper Sandler Companies during the second quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Piper Sandler Companies in the second quarter valued at approximately $31,000. AdvisorNet Financial Inc raised its stake in shares of Piper Sandler Companies by 48.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock worth $32,000 after buying an additional 37 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Piper Sandler Companies during the 3rd quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. grew its stake in Piper Sandler Companies by 46.6% in the 1st 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 period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Activity at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $336.21, for a total value of $1,008,630.00. Following the completion of the transaction, the chief executive officer directly owned 53,558 shares of the company’s stock, valued at $18,006,735.18. This represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Debbra L. Schoneman sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total transaction of $825,825.00. Following the completion of the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. The trade was a 46.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,267 shares of company stock valued at $3,763,746 over the last 90 days. 2.70% of the stock is owned by corporate insiders.

Piper Sandler Companies Stock Performance

PIPR opened at $361.91 on Friday. The stock has a market capitalization of $6.40 billion, a PE ratio of 27.27 and a beta of 1.54. Piper Sandler Companies has a one year low of $202.91 and a one year high of $374.77. The business’s 50 day moving average price is $341.35 and its 200 day moving average price is $331.30.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The company had revenue of $455.31 million for the quarter, compared to the consensus estimate of $408.40 million. During the same quarter in the previous year, the business earned $2.57 earnings per share. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, equities research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Tuesday, November 25th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio is presently 21.10%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PIPR. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Wolfe Research restated an “outperform” rating and issued a $398.00 price target on shares of Piper Sandler Companies in a research report on Wednesday. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Finally, The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Piper Sandler Companies presently has an average rating of “Hold” and a consensus price target of $392.00.

About Piper Sandler Companies

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.