Ameritas Investment Partners Inc. Lowers Holdings in Piper Sandler Companies (NYSE:PIPR)

Ameritas Investment Partners Inc. decreased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 3.7% in the first quarter, Holdings Channel.com reports. The fund owned 1,731 shares of the financial services provider’s stock after selling 66 shares during the period. Ameritas Investment Partners Inc.’s holdings in Piper Sandler Companies were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Piper Sandler Companies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock valued at $391,264,000 after acquiring an additional 20,891 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Piper Sandler Companies by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 506,340 shares of the financial services provider’s stock worth $88,546,000 after buying an additional 5,851 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Piper Sandler Companies by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 316,893 shares of the financial services provider’s stock valued at $55,415,000 after buying an additional 5,089 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Piper Sandler Companies by 7.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock valued at $56,677,000 after acquiring an additional 19,662 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Piper Sandler Companies by 37.3% in the fourth 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. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Down 3.2 %

PIPR stock opened at $259.90 on Thursday. The stock has a market cap of $4.60 billion, a PE ratio of 44.20 and a beta of 1.41. Piper Sandler Companies has a 12 month low of $130.89 and a 12 month high of $270.93. The company has a 50-day moving average price of $237.61 and a 200 day moving average price of $216.69.

Piper Sandler Companies (NYSE:PIPR) last released 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 return on equity of 13.65% and a net margin of 7.33%. The firm had revenue of $335.29 million for the quarter, compared to analysts’ expectations of $314.97 million. During the same quarter in the prior year, the firm posted $2.35 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts forecast that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Analysts Set New Price Targets

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

Insider Transactions at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 1,022 shares of Piper Sandler Companies stock in a transaction dated 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 sale, the president now owns 43,083 shares in the company, valued at approximately $9,188,311.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, President Debbra L. Schoneman sold 3,978 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $212.29, for a total value of $844,489.62. Following the completion of the sale, the president now owns 44,105 shares of the company’s stock, valued at approximately $9,363,050.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction that occurred 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 transaction, the president now owns 43,083 shares in the company, valued at approximately $9,188,311.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,570 shares of company stock worth $1,393,941. Insiders own 3.00% of the company’s stock.

Piper Sandler Companies 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.