Oppenheimer Asset Management Inc. Has $1.29 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Oppenheimer Asset Management Inc. decreased its stake in Piper Sandler Companies (NYSE:PIPR) by 17.0% in the first quarter, HoldingsChannel reports. The firm owned 6,484 shares of the financial services provider’s stock after selling 1,327 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Piper Sandler Companies were worth $1,287,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in Piper Sandler Companies during the 4th quarter worth about $29,000. Parallel Advisors LLC boosted its position in Piper Sandler Companies by 62.1% during the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 64 shares during the period. West Oak Capital LLC acquired a new stake in Piper Sandler Companies during the 4th quarter worth about $33,000. Mather Group LLC. acquired a new stake in Piper Sandler Companies during the 1st quarter worth about $64,000. Finally, Quadrant Capital Group LLC boosted its position in Piper Sandler Companies by 21.1% during the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 80 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

PIPR opened at $242.91 on Monday. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $246.13. The business’s 50-day moving average price is $221.37. The stock has a market cap of $4.30 billion, a P/E ratio of 41.31 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.90. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The company had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. During the same period last year, the business earned $2.35 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts forecast that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 40.82%.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

Insider Transactions at Piper Sandler Companies

In related news, General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the transaction, the general counsel now directly owns 16,854 shares of the company’s stock, valued at approximately $3,558,553.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel John W. Geelan sold 1,570 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the transaction, the general counsel now directly owns 16,854 shares of the company’s stock, valued at approximately $3,558,553.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Debbra L. Schoneman sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $212.29, for a total value of $844,489.62. Following the completion of the transaction, the president now directly owns 44,105 shares in the company, valued at $9,363,050.45. The disclosure for this sale can be found here. Insiders sold 6,570 shares of company stock valued at $1,393,941 in the last three months. Corporate insiders own 3.00% of the company’s stock.

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.