Dorsey & Whitney Trust CO LLC Grows Position in Piper Sandler Companies (NYSE:PIPR)

Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 35.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,420 shares of the financial services provider’s stock after purchasing an additional 1,410 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Piper Sandler Companies were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PIPR. Texas Permanent School Fund Corp lifted its stake in Piper Sandler Companies by 25.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 16,748 shares of the financial services provider’s stock worth $3,855,000 after acquiring an additional 3,445 shares in the last quarter. Choreo LLC acquired a new position in Piper Sandler Companies during the 2nd quarter worth about $269,000. Quest Partners LLC lifted its stake in Piper Sandler Companies by 531.8% during the 2nd quarter. Quest Partners LLC now owns 6,710 shares of the financial services provider’s stock worth $1,544,000 after acquiring an additional 5,648 shares in the last quarter. Arizona State Retirement System lifted its stake in Piper Sandler Companies by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 4,950 shares of the financial services provider’s stock worth $1,139,000 after acquiring an additional 83 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Piper Sandler Companies by 74.7% during the 2nd quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock worth $3,033,000 after acquiring an additional 5,636 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Price Performance

PIPR stock opened at $258.74 on Wednesday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 44.00 and a beta of 1.40. The business’s 50-day moving average is $263.73 and its two-hundred day moving average is $244.39. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $280.45.

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

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a $0.65 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 44.22%.

Insider Transactions at Piper Sandler Companies

In other 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 owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the sale, the general counsel now directly owns 15,065 shares in the company, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,276 shares of company stock valued at $3,936,252. 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.