Vise Technologies Inc. Takes Position in Piper Sandler Companies $PIPR

Vise Technologies Inc. purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,578 shares of the financial services provider’s stock, valued at approximately $716,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Piper Sandler Companies during the first quarter worth about $49,826,000. Westwood Holdings Group Inc. grew its stake in shares of Piper Sandler Companies by 35.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider’s stock valued at $88,456,000 after purchasing an additional 92,527 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Piper Sandler Companies by 384.7% during the first quarter. MetLife Investment Management LLC now owns 50,637 shares of the financial services provider’s stock worth $12,541,000 after purchasing an additional 40,190 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Piper Sandler Companies by 11.6% during the second quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the financial services provider’s stock worth $77,696,000 after purchasing an additional 29,035 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Piper Sandler Companies by 31.7% during the first quarter. Envestnet Asset Management Inc. now owns 78,128 shares of the financial services provider’s stock worth $19,349,000 after purchasing an additional 18,787 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the transaction, the president owned 2,896 shares in the company, valued at approximately $956,635.68. This trade represents a 46.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is owned by corporate insiders.

Piper Sandler Companies Trading Down 3.2%

NYSE:PIPR opened at $328.06 on Friday. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 27.68 and a beta of 1.50. The company’s 50-day moving average is $340.34 and its two-hundred day moving average is $306.12. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $2.96 by $0.86. The firm had revenue of $455.31 million during the quarter, compared to analysts’ expectations of $408.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. Piper Sandler Companies’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 EPS. On average, equities research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, November 25th. Piper Sandler Companies’s payout ratio is currently 21.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $368.00 to $386.00 in a research report on Monday. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $362.50.

Piper Sandler Companies Company 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.