Piper Sandler Companies $PIPR Stock Position Lessened by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 58.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,137 shares of the company’s stock after selling 14,169 shares during the period. Truist Financial Corp’s holdings in Piper Sandler Companies were worth $3,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Whittier Trust Co. bought a new position in Piper Sandler Companies in the 3rd quarter valued at about $31,000. Danske Bank A S bought a new stake in shares of Piper Sandler Companies during the 3rd quarter worth about $35,000. Geneos Wealth Management Inc. raised its position in shares of Piper Sandler Companies by 46.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock worth $42,000 after buying an additional 54 shares in the last quarter. Eastern Bank acquired a new stake in shares of Piper Sandler Companies in the 3rd quarter worth approximately $63,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Piper Sandler Companies in the 4th quarter worth approximately $70,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 20,960 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $87.75, for a total value of $1,839,187.60. Following the completion of the transaction, the president directly owned 11,584 shares in the company, valued at $1,016,467.04. This trade represents a 64.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.10% of the stock is currently owned by insiders.

Piper Sandler Companies Stock Down 1.3%

Shares of Piper Sandler Companies stock opened at $79.98 on Tuesday. The stock’s fifty day moving average is $79.46 and its 200-day moving average is $83.25. The firm has a market capitalization of $5.70 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.47. Piper Sandler Companies has a 12-month low of $61.01 and a 12-month high of $95.07.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. The business had revenue of $469.54 million during the quarter, compared to analyst estimates of $436.30 million. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.Piper Sandler Companies’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the company posted $4.09 EPS. Analysts expect that Piper Sandler Companies will post 4.57 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.20 per share. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Piper Sandler Companies’s payout ratio is currently 17.68%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PIPR. Northland Securities upgraded shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price objective on the stock in a research note on Wednesday, March 4th. The Goldman Sachs Group restated a “buy” rating and issued a $97.00 target price on shares of Piper Sandler Companies in a research report on Tuesday, April 14th. Wall Street Zen lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Piper Sandler Companies currently has an average rating of “Hold” and an average price target of $95.06.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.