Shell Asset Management Co. Has $459,000 Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Shell Asset Management Co. lowered its holdings in Piper Sandler Companies (NYSE:PIPR) by 3.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,311 shares of the financial services provider’s stock after selling 86 shares during the period. Shell Asset Management Co.’s holdings in Piper Sandler Companies were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Oliver Luxxe Assets LLC increased its holdings in shares of Piper Sandler Companies by 1.1% during the 1st quarter. Oliver Luxxe Assets LLC now owns 5,954 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 62 shares during the period. Parallel Advisors LLC increased its stake in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 64 shares during the period. Wedge Capital Management L L P NC increased its stake in Piper Sandler Companies by 1.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 3,572 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 67 shares during the period. 1492 Capital Management LLC raised its holdings in Piper Sandler Companies by 1.1% in the 4th quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 68 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Piper Sandler Companies by 21.1% in the 4th quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 80 shares during the period. 72.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $275.15 on Friday. The firm has a fifty day moving average of $242.28 and a 200-day moving average of $219.07. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $277.51. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 46.79 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.90. The firm had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 earnings per share. On average, sell-side analysts predict that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Insider Activity

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