Wellington Management Group LLP Makes New Investment in Piper Sandler Companies $PIPR

Wellington Management Group LLP bought a new stake in Piper Sandler Companies (NYSE:PIPR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 190,115 shares of the company’s stock, valued at approximately $13,753,000.

A number of other institutional investors have also recently made changes to their positions in PIPR. Public Employees Retirement System of Ohio grew its stake in shares of Piper Sandler Companies by 27.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 41,572 shares of the company’s stock worth $3,007,000 after acquiring an additional 9,044 shares during the period. Bank of New York Mellon Corp raised its stake in Piper Sandler Companies by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock valued at $41,466,000 after acquiring an additional 2,967 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Piper Sandler Companies during the first quarter valued at about $1,535,000. Sterling Capital Management LLC lifted its holdings in Piper Sandler Companies by 296.5% during the first quarter. Sterling Capital Management LLC now owns 452 shares of the company’s stock valued at $35,000 after purchasing an additional 338 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Piper Sandler Companies by 71.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company’s stock worth $118,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.06.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $77.04 on Tuesday. The company’s 50-day moving average price is $75.06 and its 200-day moving average price is $77.78. Piper Sandler Companies has a 12-month low of $68.70 and a 12-month high of $95.07. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.78 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.88 by $0.16. The company had revenue of $491.14 million during the quarter, compared to analysts’ expectations of $445.28 million. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. Piper Sandler Companies’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.92 earnings per share. On average, sell-side analysts predict that Piper Sandler Companies will post 4.51 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 28th. Piper Sandler Companies’s payout ratio is 18.52%.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.