Stephens Investment Management Group LLC Sells 151,217 Shares of Piper Sandler Companies (NYSE:PIPR)

Stephens Investment Management Group LLC lessened its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 42.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 207,584 shares of the financial services provider's stock after selling 151,217 shares during the period. Stephens Investment Management Group LLC owned about 1.17% of Piper Sandler Companies worth $58,914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Piper Sandler Companies by 16.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider's stock valued at $11,802,000 after buying an additional 8,510 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Piper Sandler Companies by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 13,951 shares of the financial services provider's stock worth $2,769,000 after purchasing an additional 1,779 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in 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 worth $2,641,000 after purchasing an additional 307 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Piper Sandler Companies in the 1st quarter worth approximately $238,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Piper Sandler Companies in the 1st quarter worth approximately $217,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PIPR. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Monday.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, 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 value of $3,004,017.85. Following the sale, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, 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 sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. This represents 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 accessible through this link. Also, Director Philip Soran sold 1,792 shares of the stock in a transaction 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 owns 18,341 shares in the company, valued at $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 ninety days, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is owned by corporate insiders.

Piper Sandler Companies Stock Up 0.0 %

Shares of PIPR stock traded up $0.02 during trading hours on Friday, reaching $283.66. 104,800 shares of the company's stock were exchanged, compared to its average volume of 107,082. Piper Sandler Companies has a fifty-two week low of $140.01 and a fifty-two week high of $306.10. The stock has a market capitalization of $5.02 billion, a P/E ratio of 30.31 and a beta of 1.39. The business has a fifty day moving average price of $289.85 and a 200-day moving average price of $274.58.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.26. The business had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. Piper Sandler Companies's revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. As a group, research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. Piper Sandler Companies's payout ratio is 27.78%.

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.