Creative Planning Purchases 1,992 Shares of Piper Sandler Companies $PIPR

Creative Planning increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 15.7% in the second quarter, Holdings Channel.com reports. The fund owned 14,641 shares of the financial services provider’s stock after buying an additional 1,992 shares during the quarter. Creative Planning’s holdings in Piper Sandler Companies were worth $4,069,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Piper Sandler Companies by 9.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,219 shares of the financial services provider’s stock worth $1,173,000 after acquiring an additional 366 shares in the last quarter. Calamos Advisors LLC raised its stake in shares of Piper Sandler Companies by 30.0% during the second quarter. Calamos Advisors LLC now owns 3,174 shares of the financial services provider’s stock valued at $882,000 after acquiring an additional 733 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Piper Sandler Companies by 7.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,974 shares of the financial services provider’s stock valued at $1,105,000 after purchasing an additional 270 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Piper Sandler Companies by 2.5% in the second quarter. Geode Capital Management LLC now owns 400,772 shares of the financial services provider’s stock valued at $111,402,000 after purchasing an additional 9,759 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Piper Sandler Companies by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,426 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

PIPR has been the topic of a number of recent research reports. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. Wall Street Zen upgraded shares of 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 report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $362.50.

Insider Buying and Selling at Piper Sandler Companies

In other news, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $324.69, for a total transaction of $443,851.23. Following the transaction, the chief financial officer owned 10,425 shares in the company, valued at $3,384,893.25. This trade represents a 11.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Debbra L. Schoneman sold 2,500 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total transaction of $825,825.00. Following the transaction, the president directly owned 2,896 shares in the company, valued at approximately $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by company insiders.

Piper Sandler Companies Trading Up 2.4%

Shares of Piper Sandler Companies stock opened at $323.23 on Friday. The firm’s 50 day simple moving average is $338.26 and its two-hundred day simple moving average is $309.28. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 27.28 and a beta of 1.50. 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 announced its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $455.31 million for the quarter, compared to analyst estimates of $408.40 million. During the same period in the prior year, the company earned $2.57 earnings per share. The company’s revenue was up 33.3% on a year-over-year basis. On average, sell-side analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Tuesday, November 25th will be issued a dividend of $0.70 per share. 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 dividend payout ratio is 21.10%.

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.