Bank of Montreal Can Boosts Stock Position in Piper Sandler Companies (NYSE:PIPR)

Bank of Montreal Can boosted its position in Piper Sandler Companies (NYSE:PIPR) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,262 shares of the financial services provider’s stock after purchasing an additional 46 shares during the quarter. Bank of Montreal Can’s holdings in Piper Sandler Companies were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PIPR. Vanguard Group Inc. boosted its stake in Piper Sandler Companies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after buying an additional 20,891 shares during the last quarter. Lord Abbett & CO. LLC increased its position in Piper Sandler Companies by 7.4% during the first quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after purchasing an additional 19,662 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Piper Sandler Companies by 37.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after purchasing an additional 59,915 shares during the period. Bank of New York Mellon Corp raised its stake in Piper Sandler Companies by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after purchasing an additional 9,380 shares during the period. Finally, Mairs & Power Inc. boosted its holdings in shares of Piper Sandler Companies by 210.8% in the 4th quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock valued at $21,526,000 after purchasing an additional 83,495 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Insider Transactions at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the sale, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares in the company, valued at $3,867,637.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock valued at $3,936,252 over the last quarter. Company insiders own 3.00% of the company’s stock.

Piper Sandler Companies Stock Performance

PIPR opened at $286.80 on Thursday. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $292.60. The firm has a 50 day moving average price of $277.04 and a 200 day moving average price of $264.09. The company has a market cap of $5.08 billion, a PE ratio of 48.78 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. On average, sell-side analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s payout ratio is currently 44.22%.

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.