Flagship Harbor Advisors LLC Makes New $201,000 Investment in Piper Sandler Companies $PIPR

Flagship Harbor Advisors LLC bought a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the second quarter, HoldingsChannel.com reports. The firm bought 723 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. lifted its position in Piper Sandler Companies by 35.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider’s stock worth $88,456,000 after acquiring an additional 92,527 shares during the last quarter. GW&K Investment Management LLC lifted its position in Piper Sandler Companies by 0.8% during the 1st quarter. GW&K Investment Management LLC now owns 323,483 shares of the financial services provider’s stock worth $80,114,000 after acquiring an additional 2,620 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in Piper Sandler Companies by 11.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the financial services provider’s stock worth $77,696,000 after acquiring an additional 29,035 shares during the last quarter. Nuveen LLC acquired a new position in Piper Sandler Companies during the 1st quarter worth $49,826,000. Finally, Bank of New York Mellon Corp lifted its position in Piper Sandler Companies by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 156,751 shares of the financial services provider’s stock worth $38,821,000 after acquiring an additional 992 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Finally, Wolfe Research upgraded shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price objective on the stock in a report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $312.50.

Insider Activity at Piper Sandler Companies

In related news, Director Scott C. Taylor sold 2,600 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $319.86, for a total value of $831,636.00. Following the sale, the director owned 16,319 shares of the company’s stock, valued at $5,219,795.34. The trade was a 13.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel John W. Geelan sold 2,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $322.69, for a total transaction of $645,380.00. Following the completion of the sale, the general counsel directly owned 12,645 shares in the company, valued at approximately $4,080,415.05. The trade was a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,600 shares of company stock valued at $7,259,996 over the last quarter. 2.70% of the stock is owned by company insiders.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $318.80 on Monday. The stock’s 50-day moving average is $340.75. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $374.77. The company has a market cap of $5.64 billion, a P/E ratio of 26.90 and a beta of 1.45.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. 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 firm posted $2.57 EPS. The business’s revenue was up 33.3% compared to the same quarter last year. As a group, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Tuesday, November 25th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. Piper Sandler Companies’s payout ratio is presently 23.63%.

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.