Raymond James & Associates Has $6.41 Million Holdings in Piper Sandler Companies (NYSE:PIPR)

Raymond James & Associates lowered its position in Piper Sandler Companies (NYSE:PIPR) by 2.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 27,841 shares of the financial services provider’s stock after selling 742 shares during the period. Raymond James & Associates owned 0.16% of Piper Sandler Companies worth $6,408,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Piper Sandler Companies during the fourth quarter worth $21,023,000. Mairs & Power Inc. grew its holdings in Piper Sandler Companies by 210.8% during the 4th quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock worth $21,526,000 after acquiring an additional 83,495 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Piper Sandler Companies by 37.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 220,638 shares of the financial services provider’s stock worth $38,583,000 after acquiring an additional 59,915 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Piper Sandler Companies in the 1st quarter valued at about $10,970,000. Finally, Edgestream Partners L.P. boosted its position in shares of Piper Sandler Companies by 295.6% during the 1st quarter. Edgestream Partners L.P. now owns 29,404 shares of the financial services provider’s stock valued at $5,836,000 after purchasing an additional 21,972 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, June 11th.

Piper Sandler Companies Trading Down 0.8 %

NYSE:PIPR opened at $269.89 on Wednesday. The firm has a fifty day simple moving average of $262.34 and a two-hundred day simple moving average of $237.01. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $280.45. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 45.90 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) 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 15.36% and a net margin of 9.23%. The firm’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. Equities analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be issued a $0.65 dividend. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 44.22%.

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.