USA Financial Formulas Invests $77,000 in Piper Sandler Companies (NYSE:PIPR)

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Piper Sandler Companies by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after purchasing an additional 20,891 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Piper Sandler Companies by 7.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock valued at $56,677,000 after buying an additional 19,662 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Piper Sandler Companies by 37.3% during the 4th 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. Bank of New York Mellon Corp lifted its position in shares of Piper Sandler Companies by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after acquiring an additional 9,380 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after acquiring an additional 30,942 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Insider Activity

In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction dated 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 $3,867,637.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the completion of the sale, the general counsel now directly owns 15,065 shares in the company, valued at approximately $3,867,637.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip Soran sold 1,792 shares of the 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 transaction, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 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 %

Piper Sandler Companies stock opened at $283.16 on Friday. Piper Sandler Companies has a 1-year low of $130.89 and a 1-year high of $292.60. The firm has a market capitalization of $5.01 billion, a PE ratio of 37.16 and a beta of 1.39. The firm’s 50 day simple moving average is $277.77 and its 200 day simple moving average is $264.82.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.26. The firm had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Research analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a $0.65 dividend. The ex-dividend date was Thursday, August 29th. 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. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 34.12%.

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.