Piper Sandler Companies (NYSE:PIPR) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in shares of Piper Sandler Companies (NYSE:PIPR) by 18.6% during the second quarter, Holdings Channel reports. The firm owned 7,688 shares of the financial services provider’s stock after acquiring an additional 1,204 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Piper Sandler Companies were worth $1,770,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Piper Sandler Companies during the 4th quarter worth approximately $21,023,000. Mairs & Power Inc. raised its stake in shares of Piper Sandler Companies by 210.8% in the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock valued at $21,526,000 after acquiring an additional 83,495 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Piper Sandler Companies by 37.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock valued at $38,583,000 after purchasing an additional 59,915 shares during the period. SageView Advisory Group LLC acquired a new position in Piper Sandler Companies during the 1st quarter worth $10,970,000. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in Piper Sandler Companies during the 2nd quarter worth about $10,139,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $275.37 on Thursday. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $282.75. The stock has a market cap of $4.87 billion, a P/E ratio of 46.83 and a beta of 1.40. The stock has a 50-day simple moving average of $266.80 and a 200-day simple moving average of $249.41.

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

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a $0.65 dividend. 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.94%. Piper Sandler Companies’s dividend payout ratio is 44.22%.

Insider Buying and Selling

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the sale, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, 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 transaction of $459,289.97. Following the transaction, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock worth $3,936,252 in the last quarter. 3.00% of the stock is owned by insiders.

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.