Millennium Management LLC Boosts Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Millennium Management LLC lifted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 66.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,804 shares of the financial services provider’s stock after buying an additional 30,942 shares during the quarter. Millennium Management LLC owned about 0.44% of Piper Sandler Companies worth $17,908,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PIPR. Blue Trust Inc. lifted its position 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 worth $26,000 after acquiring an additional 74 shares in the last quarter. Parallel Advisors LLC grew its holdings in Piper Sandler Companies by 62.1% during the 4th 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 in the last quarter. nVerses Capital LLC increased its position 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 period. Mather Group LLC. purchased a new stake in shares of Piper Sandler Companies in the first quarter worth about $64,000. Finally, FSC Wealth Advisors LLC boosted its position in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 97 shares during the period. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Up 3.1 %

Shares of NYSE PIPR opened at $290.89 on Friday. The stock’s 50-day simple moving average is $274.45 and its two-hundred day simple moving average is $262.18. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $291.20. The firm has a market capitalization of $5.15 billion, a P/E ratio of 49.47 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data 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 company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. During the same period in the prior year, the business earned $1.13 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, research analysts anticipate that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business 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 positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 0.89%. Piper Sandler Companies’s payout ratio is 44.22%.

Insider Activity at Piper Sandler Companies

In related 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Philip Soran sold 1,792 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,276 shares of company stock valued at $3,936,252 over the last 90 days. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

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

Piper Sandler Companies Company 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.