Allspring Global Investments Holdings LLC Has $12.56 Million Position in Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC lowered its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 15.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,263 shares of the financial services provider's stock after selling 8,372 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.25% of Piper Sandler Companies worth $12,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider's stock worth $341,051,000 after purchasing an additional 15,075 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in shares of Piper Sandler Companies during the first quarter worth $298,000. Oliver Luxxe Assets LLC grew its stake in shares of Piper Sandler Companies by 1.1% in the first quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider's stock valued at $1,182,000 after buying an additional 62 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Piper Sandler Companies by 14.6% in the first quarter. BNP Paribas Financial Markets now owns 13,951 shares of the financial services provider's stock valued at $2,769,000 after buying an additional 1,779 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Piper Sandler Companies by 2.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 13,303 shares of the financial services provider's stock valued at $2,641,000 after buying an additional 307 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

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

Piper Sandler Companies Stock Performance

Shares of PIPR stock traded down $8.95 during mid-day trading on Friday, hitting $280.53. 168,800 shares of the stock were exchanged, compared to its average volume of 107,135. Piper Sandler Companies has a 12-month low of $131.89 and a 12-month high of $306.10. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 47.71 and a beta of 1.39. The stock's fifty day simple moving average is $289.47 and its two-hundred day simple moving average is $273.40.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. On average, research analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.93%. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.60. Piper Sandler Companies's dividend payout ratio is presently 44.22%.

Insider Transactions at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares of the company's stock, valued at $37,883,279.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the sale, the general counsel now directly owns 15,065 shares of the company's stock, valued at $3,867,637.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan J. Doyle sold 12,695 shares of the 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 in the company, valued at approximately $37,883,279.85. This trade represents 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 valued at $3,936,252 over the last quarter. Company insiders own 3.00% of the company's stock.

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.