Cerity Partners LLC Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Cerity Partners LLC bought a new position in Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,245 shares of the financial services provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Piper Sandler Companies by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider’s stock valued at $26,251,000 after purchasing an additional 11,847 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Piper Sandler Companies by 1.0% in the 3rd 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 last quarter. Vanguard Group Inc. boosted its holdings in shares of Piper Sandler Companies by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock valued at $281,209,000 after purchasing an additional 9,030 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Piper Sandler Companies by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 70 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Piper Sandler Companies by 11.8% in the 3rd quarter. Deutsche Bank AG now owns 9,421 shares of the financial services provider’s stock valued at $1,369,000 after purchasing an additional 991 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Performance

PIPR opened at $199.50 on Tuesday. Piper Sandler Companies has a 1-year low of $120.97 and a 1-year high of $202.76. The company has a 50-day moving average of $194.24 and a 200-day moving average of $189.14. The company has a market capitalization of $3.54 billion, a P/E ratio of 33.93 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data 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. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The business had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. During the same quarter in the prior year, the firm earned $2.35 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.17 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. Shareholders of record on Friday, May 24th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, May 23rd. Piper Sandler Companies’s payout ratio is currently 40.82%.

Insider Activity

In related news, CEO Chad R. Abraham sold 6,662 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were 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 owns 36,454 shares of the company’s stock, valued at $6,745,083.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Chad R. Abraham sold 6,662 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 36,454 shares of the company’s stock, valued at approximately $6,745,083.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Debbra L. Schoneman sold 4,795 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the sale, the president now owns 12,140 shares in the company, valued at $2,315,340.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,524 shares of company stock valued at $9,838,711. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

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.