USA Financial Formulas Acquires New Shares in Piper Sandler Companies (NYSE:PIPR)

USA Financial Formulas bought a new position in Piper Sandler Companies (NYSE:PIPR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 271 shares of the financial services provider’s stock, valued at approximately $77,000.

Several other large investors have also added to or reduced their stakes in PIPR. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $38,583,000 after acquiring an additional 59,915 shares during the period. Vanguard Group Inc. grew its position in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock valued at $341,051,000 after purchasing an additional 15,075 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Piper Sandler Companies in the fourth quarter worth $271,000. Mather Group LLC. bought a new position in shares of Piper Sandler Companies in the first quarter worth $64,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of Piper Sandler Companies in the first quarter worth $298,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

PIPR stock opened at $283.16 on Friday. The firm has a 50 day simple moving average of $277.77 and a two-hundred day simple moving average of $264.82. The stock has a market cap of $5.01 billion, a PE ratio of 37.16 and a beta of 1.39. Piper Sandler Companies has a one year low of $130.89 and a one year high of $292.60.

Piper Sandler Companies (NYSE:PIPR) last released 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. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. During the same quarter in the prior year, the firm earned $1.13 earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. On average, research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a $0.65 dividend. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. Piper Sandler Companies’s payout ratio is presently 34.12%.

Insiders Place Their Bets

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of Piper Sandler Companies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the transaction, the general counsel now owns 15,065 shares in the company, valued at approximately $3,867,637.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock valued at $3,936,252 over the last quarter. 3.00% of the stock is owned by corporate insiders.

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, September 17th.

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.