Mairs & Power Inc. Buys 83,495 Shares of Piper Sandler Companies (NYSE:PIPR)

Mairs & Power Inc. increased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 210.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,095 shares of the financial services provider’s stock after purchasing an additional 83,495 shares during the period. Mairs & Power Inc.’s holdings in Piper Sandler Companies were worth $21,526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PIPR. Vanguard Group Inc. raised its stake in Piper Sandler Companies by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,935,235 shares of the financial services provider’s stock valued at $281,209,000 after buying an additional 9,030 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Piper Sandler Companies by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 506,340 shares of the financial services provider’s stock valued at $88,546,000 after acquiring an additional 5,851 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Piper Sandler Companies by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 316,893 shares of the financial services provider’s stock valued at $55,415,000 after acquiring an additional 5,089 shares during the period. North Reef Capital Management LP boosted its position in Piper Sandler Companies by 143.5% in the third quarter. North Reef Capital Management LP now owns 245,000 shares of the financial services provider’s stock worth $35,601,000 after purchasing an additional 144,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Piper Sandler Companies by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 187,310 shares of the financial services provider’s stock valued at $32,755,000 after purchasing an additional 6,652 shares during the period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR traded up $5.41 during trading on Wednesday, hitting $208.00. The company had a trading volume of 59,700 shares, compared to its average volume of 91,608. Piper Sandler Companies has a 12 month low of $124.46 and a 12 month high of $216.50. The firm has a market capitalization of $3.68 billion, a P/E ratio of 35.34 and a beta of 1.38. The stock has a 50 day simple moving average of $210.53 and a 200 day simple moving average of $200.29.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results 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. The company had revenue of $335.29 million for the quarter, compared to analysts’ expectations of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.35 EPS. As a group, analysts predict that Piper Sandler Companies will post 11.82 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, May 23rd. Piper Sandler Companies’s dividend payout ratio is currently 40.82%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday.

Insiders Place Their Bets

In related news, President Debbra L. Schoneman sold 3,978 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $212.29, for a total transaction of $844,489.62. Following the completion of the sale, the president now owns 44,105 shares in the company, valued at $9,363,050.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Debbra L. Schoneman sold 3,978 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $212.29, for a total value of $844,489.62. Following the transaction, the president now owns 44,105 shares of the company’s stock, valued at $9,363,050.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $213.27, for a total transaction of $217,961.94. Following the transaction, the president now owns 43,083 shares of the company’s stock, valued at approximately $9,188,311.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,570 shares of company stock worth $1,393,941. Corporate insiders own 3.00% of the company’s stock.

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.