Truist Financial Corp Has $5.29 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Truist Financial Corp lessened its position in Piper Sandler Companies (NYSE:PIPR) by 17.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,964 shares of the financial services provider’s stock after selling 4,728 shares during the period. Truist Financial Corp’s holdings in Piper Sandler Companies were worth $5,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning boosted its position in shares of Piper Sandler Companies by 20.9% during the 2nd quarter. Creative Planning now owns 6,888 shares of the financial services provider’s stock valued at $1,585,000 after purchasing an additional 1,191 shares in the last quarter. Algert Global LLC raised its stake in shares of Piper Sandler Companies by 20.2% in the second quarter. Algert Global LLC now owns 18,150 shares of the financial services provider’s stock worth $4,178,000 after purchasing an additional 3,050 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Piper Sandler Companies by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,684 shares of the financial services provider’s stock valued at $2,229,000 after acquiring an additional 308 shares during the last quarter. Millennium Management LLC increased its position in shares of Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after acquiring an additional 30,942 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Piper Sandler Companies by 10.9% during the second quarter. AQR Capital Management LLC now owns 2,254 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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 in the company, valued at $4,840,556.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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 in the company, valued at $4,840,556.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,276 shares of company stock valued at $3,936,252. Insiders own 3.00% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $286.84 on Tuesday. The stock has a market cap of $5.08 billion, a PE ratio of 48.78 and a beta of 1.39. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $292.60. The stock has a fifty day moving average of $275.02 and a 200-day moving average of $262.98.

Piper Sandler Companies (NYSE:PIPR) last posted its 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 return on equity of 15.36% and a net margin of 9.23%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. During the same period in the previous year, the business earned $1.13 earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. On average, sell-side analysts predict that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed 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 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 0.91%. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

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.