SouthState Corp Sells 79 Shares of Piper Sandler Companies (NYSE:PIPR)

SouthState Corp trimmed its stake in Piper Sandler Companies (NYSE:PIPR) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 515 shares of the financial services provider’s stock after selling 79 shares during the period. SouthState Corp’s holdings in Piper Sandler Companies were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PIPR. North Reef Capital Management LP raised its position in shares of Piper Sandler Companies by 143.5% during the 3rd quarter. North Reef Capital Management LP now owns 245,000 shares of the financial services provider’s stock valued at $35,601,000 after buying an additional 144,369 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Piper Sandler Companies by 48.8% during the third quarter. Envestnet Asset Management Inc. now owns 54,466 shares of the financial services provider’s stock valued at $7,914,000 after purchasing an additional 17,869 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 32,574 shares of the financial services provider’s stock worth $5,696,000 after purchasing an additional 15,833 shares in the last quarter. FMR LLC raised its holdings in shares of Piper Sandler Companies by 10.8% during the 3rd quarter. FMR LLC now owns 153,040 shares of the financial services provider’s stock valued at $22,238,000 after buying an additional 14,977 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Piper Sandler Companies by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 180,658 shares of the financial services provider’s stock worth $26,251,000 after buying an additional 11,847 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Up 1.5 %

Shares of PIPR stock traded up $2.98 during mid-day trading on Friday, reaching $206.14. The stock had a trading volume of 74,500 shares, compared to its average volume of 98,875. The stock’s 50-day moving average price is $194.88 and its two-hundred day moving average price is $190.42. The firm has a market capitalization of $3.65 billion, a PE ratio of 35.06 and a beta of 1.40. Piper Sandler Companies has a 52-week low of $120.97 and a 52-week high of $207.06.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.90. The firm had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $2.35 EPS. On average, equities research analysts forecast that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.40 annualized dividend and a yield of 1.16%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 40.82%.

Insider Buying and Selling at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 19,987 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 176,227 shares of the company’s stock, valued at approximately $32,408,145.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jonathan J. Doyle sold 19,987 shares of Piper Sandler Companies stock in a transaction dated 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 transaction, the insider now directly owns 176,227 shares of the company’s stock, valued at approximately $32,408,145.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Chad R. Abraham sold 11,307 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total transaction 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. In the last three months, insiders have sold 53,524 shares of company stock valued at $9,838,711. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies 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.