One Capital Management LLC Buys Shares of 29,884 Piper Sandler Companies $PIPR

One Capital Management LLC bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the second quarter, Holdings Channel.com reports. The fund bought 29,884 shares of the company’s stock, valued at approximately $2,288,000.

Several other institutional investors have also recently made changes to their positions in the stock. California State Teachers Retirement System bought a new position in shares of Piper Sandler Companies in the second quarter worth $435,408,000. Invesco Ltd. raised its stake in shares of Piper Sandler Companies by 0.3% during the 4th quarter. Invesco Ltd. now owns 716,829 shares of the company’s stock valued at $243,514,000 after purchasing an additional 2,285 shares during the period. Bank of New York Mellon Corp lifted its holdings in Piper Sandler Companies by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock worth $41,466,000 after purchasing an additional 2,967 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Piper Sandler Companies by 6.4% during the 4th quarter. JPMorgan Chase & Co. now owns 294,624 shares of the company’s stock worth $100,087,000 after purchasing an additional 17,694 shares in the last quarter. Finally, Norges Bank bought a new position in Piper Sandler Companies in the 4th quarter worth about $79,239,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 0.4%

Shares of PIPR opened at $77.06 on Thursday. Piper Sandler Companies has a 12-month low of $68.70 and a 12-month high of $95.07. The company has a market cap of $5.45 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.40. The stock has a 50-day moving average price of $75.26 and a 200-day moving average price of $77.71.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.16. The company had revenue of $491.14 million for the quarter, compared to analysts’ expectations of $445.28 million. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. Piper Sandler Companies’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.92 earnings per share. As a group, analysts predict that Piper Sandler Companies will post 4.51 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Piper Sandler Companies’s dividend payout ratio is presently 18.52%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.06.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.