Mesirow Institutional Investment Management Inc. Invests $10.14 Million in Piper Sandler Companies (NYSE:PIPR)

Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,048 shares of the financial services provider’s stock, valued at approximately $10,139,000.

A number of other institutional investors have also modified their holdings of PIPR. Norges Bank bought a new stake in shares of Piper Sandler Companies in the 4th quarter worth approximately $21,023,000. Mairs & Power Inc. boosted its holdings in shares of Piper Sandler Companies by 210.8% during the fourth quarter. Mairs & Power Inc. now owns 123,095 shares of the financial services provider’s stock valued at $21,526,000 after acquiring an additional 83,495 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Piper Sandler Companies by 37.3% during 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. SageView Advisory Group LLC bought a new position in shares of Piper Sandler Companies during the first quarter worth about $10,970,000. Finally, Edgestream Partners L.P. increased its holdings in shares of Piper Sandler Companies by 295.6% in the 1st quarter. Edgestream Partners L.P. now owns 29,404 shares of the financial services provider’s stock worth $5,836,000 after acquiring an additional 21,972 shares during the period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $262.45 on Wednesday. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 44.63 and a beta of 1.41. Piper Sandler Companies has a 1 year low of $130.89 and a 1 year high of $280.45. The business has a fifty day moving average of $261.95 and a 200-day moving average of $240.87.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data 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. The business had revenue of $357.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. On average, equities research analysts predict that Piper Sandler Companies will post 11.53 EPS for the current year.

Piper Sandler Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.65 per share. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.99%. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Analyst Ratings Changes

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, June 11th.

Insider Transactions at Piper Sandler Companies

In related news, Director Philip Soran sold 1,792 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Philip Soran sold 1,792 shares of the business’s 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 sale, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction 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 sale, the general counsel now directly owns 15,065 shares of the company’s stock, valued at $3,867,637.45. The disclosure for this sale can be found here. Insiders have sold 16,276 shares of company stock valued at $3,936,252 in the last quarter. Insiders own 3.00% of the company’s stock.

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.