BNP Paribas Financial Markets Trims Position in Piper Sandler Companies (NYSE:PIPR)

BNP Paribas Financial Markets trimmed its stake in Piper Sandler Companies (NYSE:PIPR) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,172 shares of the financial services provider’s stock after selling 2,207 shares during the period. BNP Paribas Financial Markets owned about 0.07% of Piper Sandler Companies worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Piper Sandler Companies by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 187,310 shares of the financial services provider’s stock worth $32,755,000 after purchasing an additional 6,652 shares in the last quarter. Truist Financial Corp grew its position in shares of Piper Sandler Companies by 3.7% during the 4th quarter. Truist Financial Corp now owns 27,772 shares of the financial services provider’s stock worth $4,856,000 after buying an additional 999 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Piper Sandler Companies during the fourth quarter valued at $29,000. Wedge Capital Management L L P NC raised its holdings in shares of Piper Sandler Companies by 1.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 3,572 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 67 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in Piper Sandler Companies by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 32,574 shares of the financial services provider’s stock worth $5,696,000 after acquiring an additional 15,833 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $213.40 on Friday. The company has a market capitalization of $3.78 billion, a PE ratio of 36.29 and a beta of 1.40. The company has a 50-day simple moving average of $206.42 and a two-hundred day simple moving average of $196.79. Piper Sandler Companies has a one year low of $124.46 and a one year high of $216.50.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The company had revenue of $335.29 million during the quarter, compared to analysts’ expectations of $314.97 million. During the same quarter in the prior year, the company posted $2.35 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Piper Sandler Companies will post 11.82 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 annualized dividend and a yield of 1.12%. Piper Sandler Companies’s dividend payout ratio (DPR) is 40.82%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 3,555 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $184.84, for a total value of $657,106.20. Following the completion of the sale, the president now owns 11,518 shares of the company’s stock, valued at $2,128,987.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Piper Sandler Companies 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 completion of the transaction, the president now owns 11,518 shares of the company’s stock, valued at $2,128,987.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Debbra L. Schoneman sold 205 shares of Piper Sandler Companies stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total transaction of $38,960.25. Following the sale, the president now owns 16,935 shares of the company’s stock, valued at $3,218,496.75. The disclosure for this sale can be found here. Insiders have sold 15,125 shares of company stock valued at $3,004,510 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PIPR. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th.

About Piper Sandler Companies

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.