Allspring Global Investments Holdings LLC Decreases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC cut its stake in Piper Sandler Companies (NYSE:PIPR) by 15.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 44,263 shares of the financial services provider’s stock after selling 8,372 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Piper Sandler Companies were worth $12,562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can increased its stake in Piper Sandler Companies by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 46 shares in the last quarter. Xponance Inc. increased its position in shares of Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after buying an additional 48 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after buying an additional 54 shares during the last quarter. CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its stake in Piper Sandler Companies by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 62 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of the 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 transaction, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction on 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 directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock worth $3,936,252 over the last quarter. 3.00% of the stock is currently owned by insiders.

Piper Sandler Companies Stock Down 3.1 %

Shares of NYSE:PIPR opened at $280.53 on Friday. The company has a market capitalization of $4.97 billion, a P/E ratio of 47.71 and a beta of 1.39. The stock’s fifty day simple moving average is $289.47 and its 200-day simple moving average is $273.22. Piper Sandler Companies has a 52-week low of $131.89 and a 52-week high of $306.10.

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 (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. On average, sell-side analysts anticipate that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.93%. 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. Piper Sandler Companies’s dividend payout ratio is currently 44.22%.

Piper Sandler Companies 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.