Journey Strategic Wealth LLC Takes Position in Piper Sandler Companies $PIPR

Journey Strategic Wealth LLC purchased a new stake in Piper Sandler Companies (NYSE:PIPR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 798 shares of the financial services provider’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Citizens Bank & Trust Co. lifted its position in shares of Piper Sandler Companies by 195.3% during the second quarter. First Citizens Bank & Trust Co. now owns 2,658 shares of the financial services provider’s stock worth $739,000 after purchasing an additional 1,758 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Piper Sandler Companies by 1.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,902 shares of the financial services provider’s stock valued at $3,492,000 after purchasing an additional 160 shares in the last quarter. Strs Ohio bought a new position in Piper Sandler Companies in the 1st quarter worth approximately $1,238,000. Park Avenue Securities LLC acquired a new position in Piper Sandler Companies during the 2nd quarter worth $1,140,000. Finally, Fluent Financial LLC bought a new position in Piper Sandler Companies in the 2nd quarter valued at $1,755,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Zacks Research raised shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.50.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 2,500 shares of Piper Sandler Companies 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 of the company’s stock, valued at approximately $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Katherine Patricia Clune sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the completion of the transaction, the chief financial officer owned 10,425 shares of the company’s stock, valued at $3,384,893.25. This trade represents a 11.59% decrease in their position. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by insiders.

Piper Sandler Companies Stock Up 1.4%

Shares of PIPR stock opened at $328.23 on Tuesday. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $374.77. The firm has a fifty day moving average of $337.85 and a 200-day moving average of $310.64. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 27.70 and a beta of 1.50.

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

Piper Sandler Companies Dividend Announcement

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

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.