Piper Sandler Companies (NYSE:PIPR) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. decreased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 13.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 373,475 shares of the financial services provider’s stock after selling 56,230 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Piper Sandler Companies were worth $85,963,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PIPR. Norges Bank purchased a new position in Piper Sandler Companies during the 4th quarter valued at about $21,023,000. Mairs & Power Inc. raised its position in 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 worth $21,526,000 after acquiring an additional 83,495 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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 purchased a new position in Piper Sandler Companies during the 1st quarter valued at about $10,970,000. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Piper Sandler Companies in the second quarter valued at $10,139,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction 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 approximately $4,840,556.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is currently owned by company insiders.

Piper Sandler Companies Trading Up 1.1 %

NYSE PIPR opened at $286.99 on Friday. The firm’s fifty day simple moving average is $268.21 and its 200-day simple moving average is $251.63. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $287.90. The company has a market capitalization of $5.08 billion, a PE ratio of 48.81 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, analysts predict that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $0.65 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.91%. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is currently 44.22%.

Analysts Set New Price Targets

Separately, JMP Securities restated 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.