EFG Asset Management North America Corp. Boosts Stock Position in Piper Sandler Companies $PIPR

EFG Asset Management North America Corp. boosted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 41.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,096 shares of the financial services provider’s stock after purchasing an additional 4,122 shares during the quarter. EFG Asset Management North America Corp. owned approximately 0.08% of Piper Sandler Companies worth $3,925,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC purchased a new position in shares of Piper Sandler Companies in the 2nd quarter valued at approximately $204,000. Bank of Montreal Can grew its position in shares of Piper Sandler Companies by 5.9% in the second quarter. Bank of Montreal Can now owns 3,276 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 183 shares during the period. Moody Aldrich Partners LLC grew its position in shares of Piper Sandler Companies by 9.0% in the second quarter. Moody Aldrich Partners LLC now owns 25,246 shares of the financial services provider’s stock valued at $7,017,000 after purchasing an additional 2,095 shares during the period. Amalgamated Bank grew its position in Piper Sandler Companies by 1.7% during the second quarter. Amalgamated Bank now owns 4,713 shares of the financial services provider’s stock valued at $1,310,000 after acquiring an additional 81 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in shares of Piper Sandler Companies by 72,820.0% in the second quarter. Hantz Financial Services Inc. now owns 3,646 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 3,641 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several recent analyst reports. Wolfe Research upgraded Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price target on the stock in a research note on Thursday, July 10th. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Piper Sandler Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Piper Sandler Companies Trading Up 0.9%

PIPR stock opened at $326.61 on Wednesday. The stock has a 50-day moving average price of $340.29 and a two-hundred day moving average price of $302.71. The stock has a market cap of $5.78 billion, a PE ratio of 27.56 and a beta of 1.45. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. The firm had revenue of $455.31 million during the quarter, compared to analysts’ expectations of $408.40 million. Piper Sandler Companies had a return on equity of 18.67% and a net margin of 13.18%.The company’s revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 EPS. On average, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $2.80 annualized dividend and a dividend yield of 0.9%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 21.10%.

Insider Buying and Selling at Piper Sandler Companies

In other news, General Counsel John W. Geelan sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $322.69, for a total value of $645,380.00. Following the completion of the transaction, the general counsel owned 12,645 shares in the company, valued at $4,080,415.05. This trade represents a 13.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by insiders.

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.