Fisher Asset Management LLC Sells 3,563 Shares of Piper Sandler Companies $PIPR

Fisher Asset Management LLC lowered its position in shares of Piper Sandler Companies (NYSE:PIPR) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,646 shares of the financial services provider’s stock after selling 3,563 shares during the quarter. Fisher Asset Management LLC’s holdings in Piper Sandler Companies were worth $41,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Piper Sandler Companies during the 2nd quarter valued at $59,820,000. Nuveen LLC bought a new position in Piper Sandler Companies in the 1st quarter worth $49,826,000. American Century Companies Inc. increased its stake in Piper Sandler Companies by 1,155.7% in the 2nd quarter. American Century Companies Inc. now owns 200,149 shares of the financial services provider’s stock worth $55,630,000 after buying an additional 184,210 shares in the last quarter. Franklin Resources Inc. bought a new stake in Piper Sandler Companies during the second quarter valued at about $51,021,000. Finally, Westwood Holdings Group Inc. raised its holdings in Piper Sandler Companies by 35.0% during the first quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider’s stock valued at $88,456,000 after acquiring an additional 92,527 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 1.5%

PIPR stock opened at $324.16 on Wednesday. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $374.77. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 27.36 and a beta of 1.50. The firm’s fifty day simple moving average is $334.49 and its two-hundred day simple moving average is $313.54.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. The firm had revenue of $455.31 million during the quarter, compared to analysts’ expectations of $408.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 EPS. As a group, equities research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies’s dividend payout ratio is currently 21.10%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PIPR shares. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $368.00 to $386.00 in a research note on Monday, November 10th. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Piper Sandler Companies currently has an average rating of “Moderate Buy” and an average price target of $362.50.

Insider Activity

In other news, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $324.69, for a total value of $443,851.23. Following the sale, the chief financial officer directly owned 10,425 shares in the company, valued at approximately $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chad R. Abraham sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $337.60, for a total value of $1,485,440.00. Following the sale, the chief executive officer directly owned 53,558 shares of the company’s stock, valued at $18,081,180.80. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,267 shares of company stock valued at $3,763,746. 2.70% of the stock is currently owned by insiders.

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.