NorthCrest Asset Manangement LLC Purchases 3,801 Shares of Piper Sandler Companies $PIPR

NorthCrest Asset Manangement LLC boosted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 81.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,469 shares of the financial services provider’s stock after buying an additional 3,801 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Piper Sandler Companies were worth $2,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of Piper Sandler Companies by 9.8% in the 2nd quarter. Invesco Ltd. now owns 694,312 shares of the financial services provider’s stock valued at $192,977,000 after acquiring an additional 61,808 shares in the last quarter. Geode Capital Management LLC raised its stake in Piper Sandler Companies by 2.5% in the second quarter. Geode Capital Management LLC now owns 400,772 shares of the financial services provider’s stock valued at $111,402,000 after purchasing an additional 9,759 shares in the last quarter. JPMorgan Chase & Co. grew its position in Piper Sandler Companies by 1.0% in the second quarter. JPMorgan Chase & Co. now owns 290,357 shares of the financial services provider’s stock worth $80,702,000 after acquiring an additional 2,839 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Piper Sandler Companies by 11.6% in the second quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the financial services provider’s stock valued at $77,696,000 after acquiring an additional 29,035 shares during the period. Finally, Norges Bank purchased a new position in shares of Piper Sandler Companies during the second quarter valued at approximately $59,820,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PIPR. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. Wolfe Research reissued an “outperform” rating and set a $398.00 price objective on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Piper Sandler Companies currently has a consensus rating of “Hold” and an average target price of $392.00.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, CFO Katherine Patricia Clune sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $324.69, for a total value of $443,851.23. Following the completion of the transaction, the chief financial officer directly owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. The trade was a 11.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Debbra L. Schoneman sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total transaction of $825,825.00. Following the sale, the president directly owned 2,896 shares in the company, valued at $956,635.68. The trade was a 46.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,267 shares of company stock worth $3,763,746. 2.70% of the stock is owned by corporate insiders.

Piper Sandler Companies Trading Up 0.6%

NYSE:PIPR opened at $376.89 on Tuesday. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $379.54. The company has a market capitalization of $6.67 billion, a P/E ratio of 28.40 and a beta of 1.54. The business’s 50-day moving average is $345.99 and its 200 day moving average is $335.59.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $2.96 by $0.86. The company had revenue of $455.31 million for the quarter, compared to the consensus estimate of $408.40 million. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The firm’s revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.57 EPS. On average, research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th were paid a $0.70 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.7%. Piper Sandler Companies’s dividend payout ratio is presently 21.10%.

Piper Sandler Companies Company Profile

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.