Piper Sandler Companies (NYSE:PIPR) Stock Holdings Lessened by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 93.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,360 shares of the financial services provider's stock after selling 18,721 shares during the period. SG Americas Securities LLC's holdings in Piper Sandler Companies were worth $386,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PIPR. Goldman Sachs Group Inc. grew its stake in Piper Sandler Companies by 37.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider's stock worth $38,583,000 after purchasing an additional 59,915 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Piper Sandler Companies in the first quarter valued at approximately $10,970,000. Mesirow Institutional Investment Management Inc. acquired a new position in Piper Sandler Companies in the second quarter valued at approximately $10,139,000. Millennium Management LLC boosted its stake in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock valued at $17,908,000 after acquiring an additional 30,942 shares during the period. Finally, Nicholas Investment Partners LP acquired a new position in Piper Sandler Companies in the second quarter valued at approximately $5,950,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

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

Piper Sandler Companies Stock Down 0.1 %

PIPR stock traded down $0.42 during midday trading on Friday, reaching $303.20. The company had a trading volume of 100,900 shares, compared to its average volume of 106,913. The stock has a 50 day moving average price of $287.03 and a 200 day moving average price of $270.36. Piper Sandler Companies has a fifty-two week low of $130.89 and a fifty-two week high of $306.10. The firm has a market capitalization of $5.37 billion, a PE ratio of 39.79 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to analysts' expectations of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business's revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. Research analysts predict 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. Stockholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Thursday, August 29th. This is a boost from Piper Sandler Companies's previous quarterly dividend of $0.60. Piper Sandler Companies's payout ratio is 34.12%.

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.