New York Life Investment Management LLC Sells 405 Shares of Piper Sandler Companies (NYSE:PIPR)

New York Life Investment Management LLC lessened its stake in shares of Piper Sandler Companies (NYSE:PIPRFree Report) by 13.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,568 shares of the financial services provider’s stock after selling 405 shares during the period. New York Life Investment Management LLC’s holdings in Piper Sandler Companies were worth $373,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Indiana Trust & Investment Management CO bought a new stake in Piper Sandler Companies during the third quarter valued at about $26,000. Texas Permanent School Fund Corp grew its holdings in Piper Sandler Companies by 5.8% during the second quarter. Texas Permanent School Fund Corp now owns 12,993 shares of the financial services provider’s stock valued at $1,679,000 after purchasing an additional 707 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Piper Sandler Companies by 6.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 168,811 shares of the financial services provider’s stock valued at $21,821,000 after purchasing an additional 10,262 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Piper Sandler Companies by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock valued at $8,822,000 after purchasing an additional 615 shares during the period. Finally, Bank of Montreal Can bought a new stake in Piper Sandler Companies during the second quarter valued at about $286,000. Institutional investors own 67.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Northland Securities lowered Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 19th. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group upped their price objective on Piper Sandler Companies from $171.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th.

Check Out Our Latest Stock Analysis on PIPR

Insider Activity at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 5,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $160.56, for a total transaction of $802,800.00. Following the completion of the transaction, the president now directly owns 19,971 shares of the company’s stock, valued at $3,206,543.76. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Chad R. Abraham sold 6,662 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $185.03, for a total value of $1,232,669.86. Following the completion of the sale, the chief executive officer now directly owns 36,454 shares of the company’s stock, valued at approximately $6,745,083.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Debbra L. Schoneman sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $160.56, for a total value of $802,800.00. Following the completion of the sale, the president now directly owns 19,971 shares of the company’s stock, valued at $3,206,543.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,123 shares of company stock valued at $9,236,744. Insiders own 3.32% of the company’s stock.

Piper Sandler Companies Stock Up 1.5 %

NYSE PIPR opened at $186.72 on Monday. The stock has a 50-day simple moving average of $174.65. Piper Sandler Companies has a twelve month low of $120.97 and a twelve month high of $192.67. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 37.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.33.

Piper Sandler Companies (NYSE:PIPRGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $1.42. Piper Sandler Companies had a return on equity of 13.43% and a net margin of 6.33%. The company had revenue of $457.39 million during the quarter, compared to analyst estimates of $370.12 million. During the same period in the prior year, the company earned $3.33 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. Research analysts expect that Piper Sandler Companies will post 11.17 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Monday, March 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, March 1st. Piper Sandler Companies’s payout ratio is presently 48.58%.

About Piper Sandler Companies

(Free Report)

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 and institutional sales, trading, and research services for various equity and fixed income products.

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Institutional Ownership by Quarter for Piper Sandler Companies (NYSE:PIPR)

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