The Manufacturers Life Insurance Company Increases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

The Manufacturers Life Insurance Company lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,684 shares of the financial services provider’s stock after buying an additional 308 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Piper Sandler Companies worth $2,229,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. New York State Teachers Retirement System boosted its position in shares of Piper Sandler Companies by 1.9% during the second quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after buying an additional 610 shares during the last quarter. Vanguard Group Inc. boosted its position in Piper Sandler Companies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock worth $341,051,000 after purchasing an additional 15,075 shares during the last quarter. Millennium Management LLC boosted its position in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after purchasing an additional 30,942 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Piper Sandler Companies in the first quarter worth $90,000. Finally, Louisiana State Employees Retirement System boosted its position in Piper Sandler Companies by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock worth $1,795,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Trading Down 0.4 %

PIPR stock opened at $286.80 on Thursday. The stock’s fifty day simple moving average is $277.04 and its two-hundred day simple moving average is $264.09. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $292.60. The stock has a market cap of $5.08 billion, a P/E ratio of 48.78 and a beta of 1.39.

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 for the quarter, topping the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.65 per share. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.91%. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

Insider Transactions at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel John W. Geelan sold 1,789 shares of the 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 sale, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction dated Wednesday, August 21st. The stock was 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 in the company, valued at $4,840,556.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is owned by company insiders.

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.