Piper Sandler Companies (NYSE:PIPR) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 17.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,964 shares of the financial services provider's stock after selling 4,728 shares during the period. Truist Financial Corp owned approximately 0.13% of Piper Sandler Companies worth $5,286,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 74 shares in the last quarter. nVerses Capital LLC grew its holdings in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after acquiring an additional 100 shares in the last quarter. Mather Group LLC. acquired a new position in Piper Sandler Companies during the 1st quarter worth approximately $64,000. FSC Wealth Advisors LLC grew its holdings in Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider's stock worth $80,000 after acquiring an additional 97 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Piper Sandler Companies during the 1st quarter worth approximately $90,000. Institutional investors and hedge funds own 72.79% of the company's stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR traded up $2.36 during trading on Tuesday, hitting $289.20. 7,635 shares of the company were exchanged, compared to its average volume of 106,676. The stock has a market capitalization of $5.12 billion, a P/E ratio of 49.19 and a beta of 1.39. Piper Sandler Companies has a 12-month low of $130.89 and a 12-month high of $292.60. The firm's 50 day moving average price is $275.02 and its 200-day moving average price is $262.98.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.26. The business had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The company's revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. As a group, equities research analysts anticipate that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a $0.65 dividend. This is an increase from Piper Sandler Companies's previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 0.90%. Piper Sandler Companies's dividend payout ratio is 44.22%.

Insider Activity at Piper Sandler Companies

In related news, Director Philip Soran sold 1,792 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the sale, the director now owns 18,341 shares in the company, valued at $4,840,556.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the company's stock in a transaction on 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 owns 160,095 shares of the company's stock, valued at approximately $37,883,279.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 in the last 90 days. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Company 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.