Wedge Capital Management L L P NC Raises Stock Position in Piper Sandler Companies (NYSE:PIPR)

Wedge Capital Management L L P NC boosted its holdings in Piper Sandler Companies (NYSE:PIPR) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,572 shares of the financial services provider’s stock after buying an additional 67 shares during the period. Wedge Capital Management L L P NC’s holdings in Piper Sandler Companies were worth $625,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PIPR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Piper Sandler Companies by 16.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,517 shares of the financial services provider’s stock worth $511,000 after buying an additional 507 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Piper Sandler Companies during the 3rd quarter valued at about $379,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Piper Sandler Companies by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock valued at $8,822,000 after purchasing an additional 615 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Piper Sandler Companies by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 70 shares during the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in shares of Piper Sandler Companies during the 3rd quarter valued at about $1,264,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 2.7 %

Shares of NYSE:PIPR opened at $197.16 on Friday. Piper Sandler Companies has a 12 month low of $120.97 and a 12 month high of $202.76. The company has a 50-day moving average price of $194.02 and a 200 day moving average price of $188.45. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 39.91 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $1.42. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The firm had revenue of $457.39 million during the quarter, compared to the consensus estimate of $370.12 million. During the same quarter last year, the firm earned $3.33 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that Piper Sandler Companies will post 11.17 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, March 1st. Piper Sandler Companies’s payout ratio is 48.58%.

Analyst Ratings Changes

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

Insider Activity at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 6,662 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $185.03, for a total value of $1,232,669.86. Following the completion of the transaction, the chief executive officer now owns 36,454 shares of the company’s stock, valued at approximately $6,745,083.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 6,662 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $185.03, for a total value of $1,232,669.86. Following the completion of the sale, the chief executive officer now owns 36,454 shares of the company’s stock, valued at $6,745,083.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of the firm’s 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 directly owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,524 shares of company stock valued at $9,838,711. Insiders own 3.00% of the company’s stock.

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.