Panagora Asset Management Inc. Acquires New Position in Piper Sandler Companies (NYSE:PIPR)

Panagora Asset Management Inc. bought a new position in Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,271 shares of the financial services provider’s stock, valued at approximately $222,000.

A number of other institutional investors also recently modified their holdings of PIPR. GAMMA Investing LLC acquired a new position in shares of Piper Sandler Companies in the fourth quarter worth $29,000. West Oak Capital LLC purchased a new position in Piper Sandler Companies in the fourth quarter valued at about $33,000. Quadrant Capital Group LLC increased its position in Piper Sandler Companies by 21.1% in the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 80 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter worth about $201,000. Finally, Obermeyer Wood Investment Counsel Lllp acquired a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $213.40 on Friday. The stock has a market capitalization of $3.78 billion, a P/E ratio of 36.29 and a beta of 1.40. The business has a 50-day moving average of $206.42 and a two-hundred day moving average of $196.88. 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 posted its earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The firm had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. During the same period in the previous year, the company earned $2.35 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, research analysts expect that Piper Sandler Companies will post 11.82 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, June 7th. Investors of record on Friday, May 24th will be paid a $0.60 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.40 dividend on an annualized basis and a yield of 1.12%. Piper Sandler Companies’s payout ratio is presently 40.82%.

Insider Buying and Selling

In other 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 sale, the president now directly owns 11,518 shares of the company’s stock, valued at $2,128,987.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Debbra L. Schoneman sold 205 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $190.05, for a total transaction of $38,960.25. Following the completion of the transaction, the president now directly owns 16,935 shares in the company, valued at approximately $3,218,496.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Debbra L. Schoneman sold 3,555 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $184.84, for a total transaction of $657,106.20. Following the completion of the sale, the president now directly owns 11,518 shares of the company’s stock, valued at $2,128,987.12. The disclosure for this sale can be found here. Insiders have sold 15,125 shares of company stock worth $3,004,510 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.