Future Fund LLC Invests $737,000 in Piper Sandler Companies $PIPR

Future Fund LLC acquired a new stake in Piper Sandler Companies (NYSE:PIPR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,650 shares of the financial services provider’s stock, valued at approximately $737,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in Piper Sandler Companies during the 2nd quarter worth $384,000. EFG Asset Management North America Corp. lifted its position in Piper Sandler Companies by 41.3% in the 2nd quarter. EFG Asset Management North America Corp. now owns 14,096 shares of the financial services provider’s stock valued at $3,925,000 after purchasing an additional 4,122 shares during the last quarter. Fullcircle Wealth LLC acquired a new position in shares of Piper Sandler Companies during the second quarter worth approximately $204,000. Bank of Montreal Can boosted its position in Piper Sandler Companies by 5.9% during the 2nd quarter. Bank of Montreal Can now owns 3,276 shares of the financial services provider’s stock worth $911,000 after acquiring an additional 183 shares during the period. Finally, Moody Aldrich Partners LLC grew its position in Piper Sandler Companies by 9.0% in the 2nd quarter. Moody Aldrich Partners LLC now owns 25,246 shares of the financial services provider’s stock valued at $7,017,000 after buying an additional 2,095 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 2,500 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total transaction of $825,825.00. Following the transaction, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. This trade represents a 46.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

PIPR has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Piper Sandler Companies has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Piper Sandler Companies Stock Down 0.7%

NYSE:PIPR opened at $326.33 on Monday. The firm has a market capitalization of $5.77 billion, a PE ratio of 27.54 and a beta of 1.50. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $374.77. The firm has a 50-day moving average price of $339.89 and a 200 day moving average price of $304.34.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.86. The company had revenue of $455.31 million during the quarter, compared to analyst estimates of $408.40 million. Piper Sandler Companies had a net margin of 13.18% and a return on equity of 18.67%. The company’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies’s dividend payout ratio is 21.10%.

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.