Panagora Asset Management Inc. Buys Shares of 1,271 Piper Sandler Companies (NYSE:PIPR)

Panagora Asset Management Inc. purchased a new stake in Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,271 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other hedge funds have also recently modified their holdings of the business. Wedge Capital Management L L P NC raised its stake in Piper Sandler Companies by 1.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 3,572 shares of the financial services provider’s stock worth $625,000 after buying an additional 67 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Piper Sandler Companies by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock worth $1,130,000 after acquiring an additional 70 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Piper Sandler Companies by 21.1% in the 4th 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 in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Piper Sandler Companies by 5.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,716 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 92 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Piper Sandler Companies during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PIPR. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $213.40 on Friday. The business’s 50-day moving average is $206.42 and its 200 day moving average is $196.88. Piper Sandler Companies has a 1 year low of $124.46 and a 1 year high of $216.50. The firm has a market capitalization of $3.78 billion, a P/E ratio of 36.29 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.90. The business had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.35 earnings per share. On average, analysts expect that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a $0.60 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.12%. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Insider Transactions at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 4,795 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the transaction, the president now directly owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the sale, the president now owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Debbra L. Schoneman sold 3,555 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $184.84, for a total value of $657,106.20. Following the completion of the transaction, the president now directly owns 11,518 shares in the company, valued at $2,128,987.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,125 shares of company stock worth $3,004,510. Company insiders own 3.00% of the company’s stock.

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.