Piper Sandler Companies (NYSE:PIPR) Shares Sold by SouthState Corp

SouthState Corp decreased its holdings in Piper Sandler Companies (NYSE:PIPR) by 13.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515 shares of the financial services provider’s stock after selling 79 shares during the quarter. SouthState Corp’s holdings in Piper Sandler Companies were worth $90,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PIPR. GAMMA Investing LLC purchased a new stake in shares of Piper Sandler Companies during the fourth quarter worth about $29,000. West Oak Capital LLC acquired a new stake in shares of Piper Sandler Companies during the fourth quarter worth $33,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Piper Sandler Companies during the third quarter worth $201,000. Obermeyer Wood Investment Counsel Lllp purchased a new stake in shares of Piper Sandler Companies during the third quarter valued at $213,000. Finally, V Wealth Advisors LLC acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $218,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 19,987 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the completion of the sale, the insider now owns 176,227 shares of the company’s stock, valued at $32,408,145.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Jonathan J. Doyle sold 19,987 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $183.90, for a total transaction of $3,675,609.30. Following the completion of the sale, the insider now directly owns 176,227 shares in the company, valued at approximately $32,408,145.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chad R. Abraham sold 11,307 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total value of $2,037,295.26. Following the completion of the sale, the chief executive officer now owns 24,116 shares in the company, valued at approximately $4,345,220.88. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock worth $9,838,711 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

Piper Sandler Companies Price Performance

PIPR stock traded up $2.98 during trading on Friday, hitting $206.14. 74,500 shares of the company traded hands, compared to its average volume of 98,875. The stock’s 50-day simple moving average is $194.88 and its 200 day simple moving average is $190.42. Piper Sandler Companies has a 1 year low of $120.97 and a 1 year high of $207.06. The company has a market cap of $3.65 billion, a PE ratio of 35.06 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.90. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.83%. The company had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. During the same quarter in the prior year, the firm earned $2.35 EPS. Piper Sandler Companies’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts expect that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a $0.60 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.40 annualized dividend and a dividend yield of 1.16%. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

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.