USA Financial Formulas Takes Position in Piper Sandler Companies (NYSE:PIPR)

USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 271 shares of the financial services provider’s stock, valued at approximately $77,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its position in Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the period. Kesler Norman & Wride LLC purchased a new position in Piper Sandler Companies during the third quarter valued at $469,000. Heritage Wealth Management Inc. bought a new stake in Piper Sandler Companies during the second quarter valued at about $284,000. Creative Planning increased its position in Piper Sandler Companies by 20.9% in the second quarter. Creative Planning now owns 6,888 shares of the financial services provider’s stock worth $1,585,000 after buying an additional 1,191 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Piper Sandler Companies by 20.2% in the second quarter. Algert Global LLC now owns 18,150 shares of the financial services provider’s stock worth $4,178,000 after buying an additional 3,050 shares during the period. Institutional investors own 72.79% of the company’s stock.

Insider Activity

In related news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the sale, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel John W. Geelan sold 1,789 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is currently owned by insiders.

Piper Sandler Companies Trading Down 1.3 %

Shares of PIPR opened at $283.16 on Friday. Piper Sandler Companies has a 12-month low of $130.89 and a 12-month high of $292.60. The company has a market capitalization of $5.01 billion, a PE ratio of 37.16 and a beta of 1.39. The business’s 50 day moving average is $277.77 and its 200 day moving average is $264.82.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. During the same period in the previous year, the firm posted $1.13 EPS. Piper Sandler Companies’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.92%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is 34.12%.

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note 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.