23,388 Shares of Piper Sandler Companies $PIPR Bought by Ascent Group LLC

Ascent Group LLC acquired a new stake in Piper Sandler Companies (NYSE:PIPR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,388 shares of the company’s stock, valued at approximately $1,543,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. Provenance Wealth Advisors LLC grew its stake in shares of Piper Sandler Companies by 16,030.6% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 5,807 shares of the company’s stock valued at $383,000 after purchasing an additional 5,771 shares during the period. Choreo LLC lifted its stake in Piper Sandler Companies by 29.2% during the third quarter. Choreo LLC now owns 5,798 shares of the company’s stock valued at $383,000 after buying an additional 1,311 shares in the last quarter. Moody Aldrich Partners LLC increased its position in shares of Piper Sandler Companies by 4.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,105 shares of the company’s stock worth $4,955,000 after purchasing an additional 3,020 shares in the last quarter. Signaturefd LLC grew its position in Piper Sandler Companies by 64.0% in the third quarter. Signaturefd LLC now owns 5,217 shares of the company’s stock valued at $344,000 after purchasing an additional 2,036 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in Piper Sandler Companies in the third quarter valued at about $330,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Debbra Schoneman sold 39,708 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $67.38, for a total value of $2,675,525.04. Following the transaction, the president owned 11,752 shares in the company, valued at $791,849.76. The trade was a 77.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Zacks Research cut shares of Piper Sandler Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Bank of America restated an “underperform” rating and issued a $69.00 price target on shares of Piper Sandler Companies in a report on Tuesday. The Goldman Sachs Group set a $80.00 target price on shares of Piper Sandler Companies and gave the stock a “buy” rating in a research report on Thursday, October 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Piper Sandler Companies currently has a consensus rating of “Hold” and an average target price of $84.00.

Piper Sandler Companies Trading Down 1.8%

Shares of NYSE PIPR opened at $65.95 on Friday. Piper Sandler Companies has a 12 month low of $61.35 and a 12 month high of $95.07. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.22 and a beta of 1.39. The company has a 50 day simple moving average of $69.10 and a two-hundred day simple moving average of $76.58.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.06). Piper Sandler Companies had a net margin of 14.53% and a return on equity of 21.11%. The company had revenue of $456.04 million during the quarter, compared to analyst estimates of $467.39 million. During the same quarter in the prior year, the company posted $3.82 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. Analysts forecast that Piper Sandler Companies will post 4.10 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 24th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 24th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 18.82%.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE:PIPR) is an investment banking and institutional securities firm that provides financial services to corporations, financial institutions, public-sector entities, institutional investors and private equity firms. The company offers advisory and capital-raising services, including mergers and acquisitions, equity and debt offerings, restructuring and other strategic transactions.

Its institutional securities activities include equity research, sales and trading, fixed-income services and market-making.