Choreo LLC Purchases Shares of 1,159 Piper Sandler Companies (NYSE:PIPR)

Choreo LLC acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,159 shares of the financial services provider’s stock, valued at approximately $269,000.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after buying an additional 74 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after buying an additional 64 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Piper Sandler Companies during the first quarter valued at about $64,000. Finally, FSC Wealth Advisors LLC grew its holdings in shares of Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after buying an additional 97 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies 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 completion of the sale, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,276 shares of company stock valued at $3,936,252. Company insiders own 3.00% of the company’s stock.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $275.37 on Thursday. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $282.75. The stock has a market cap of $4.87 billion, a PE ratio of 46.83 and a beta of 1.40. The firm’s 50-day simple moving average is $266.80 and its 200 day simple moving average is $249.41.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share 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 business had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. During the same period in the previous year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, analysts predict that Piper Sandler Companies will post 11.53 EPS for the current fiscal 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 given a $0.65 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 0.94%. Piper Sandler Companies’s payout ratio is currently 44.22%.

Analyst Ratings Changes

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

About Piper Sandler Companies

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.