Principal Financial Group Inc. Reduces Holdings in Piper Sandler Companies (NYSE:PIPR)

Principal Financial Group Inc. trimmed its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,118 shares of the financial services provider’s stock after selling 122 shares during the period. Principal Financial Group Inc. owned about 0.49% of Piper Sandler Companies worth $15,059,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Piper Sandler Companies by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider’s stock worth $26,251,000 after purchasing an additional 11,847 shares in the last quarter. Vanguard Group Inc. boosted its position in Piper Sandler Companies by 0.5% during the third quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock worth $281,209,000 after acquiring an additional 9,030 shares during the last quarter. Truist Financial Corp boosted its position in Piper Sandler Companies by 3.7% during the fourth quarter. Truist Financial Corp now owns 27,772 shares of the financial services provider’s stock worth $4,856,000 after acquiring an additional 999 shares during the last quarter. Deutsche Bank AG boosted its position in Piper Sandler Companies by 11.8% during the third quarter. Deutsche Bank AG now owns 9,421 shares of the financial services provider’s stock worth $1,369,000 after acquiring an additional 991 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Piper Sandler Companies by 0.9% during the third quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock worth $1,130,000 after acquiring an additional 70 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Debbra L. Schoneman sold 3,555 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $184.84, for a total value of $657,106.20. Following the transaction, the president now owns 11,518 shares of the company’s stock, valued at approximately $2,128,987.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Debbra L. Schoneman sold 3,555 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $184.84, for a total value of $657,106.20. Following the transaction, the president now owns 11,518 shares of the company’s stock, valued at approximately $2,128,987.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Debbra L. Schoneman sold 1,022 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $213.27, for a total transaction of $217,961.94. Following the completion of the transaction, the president now directly owns 43,083 shares in the company, valued at approximately $9,188,311.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,125 shares of company stock valued at $3,004,510. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th.

Piper Sandler Companies Stock Down 1.3 %

Shares of PIPR opened at $209.72 on Friday. The firm has a market cap of $3.71 billion, a PE ratio of 35.67 and a beta of 1.40. The company’s fifty day moving average is $205.30 and its two-hundred day moving average is $196.41. Piper Sandler Companies has a fifty-two week low of $124.46 and a fifty-two week high of $216.50.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. The company had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. Piper Sandler Companies’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned $2.35 EPS. As a group, equities research analysts anticipate that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is presently 40.82%.

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.