Oppenheimer Asset Management Inc. Sells 91 Shares of Piper Sandler Companies (NYSE:PIPR)

Oppenheimer Asset Management Inc. trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,597 shares of the financial services provider’s stock after selling 91 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Piper Sandler Companies were worth $2,156,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Piper Sandler Companies during the second quarter worth approximately $10,139,000. Millennium Management LLC grew its holdings in shares of Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after purchasing an additional 30,942 shares during the last quarter. Nicholas Investment Partners LP purchased a new position in Piper Sandler Companies in the 2nd quarter worth $5,950,000. Sei Investments Co. lifted its stake in Piper Sandler Companies by 101.2% in the second quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock worth $10,282,000 after purchasing an additional 22,471 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock valued at $391,264,000 after buying an additional 20,891 shares during the period. Institutional investors own 72.79% of the company’s stock.

Insider Buying and Selling

In related news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at $4,840,556.72. The trade was a 8.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.

Piper Sandler Companies Stock Up 1.4 %

Shares of Piper Sandler Companies stock opened at $336.11 on Friday. The company’s fifty day simple moving average is $306.39 and its two-hundred day simple moving average is $284.69. Piper Sandler Companies has a 12-month low of $150.30 and a 12-month high of $347.15. The firm has a market cap of $5.98 billion, a PE ratio of 35.91 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

PIPR has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 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.