EFG Asset Management North America Corp. Has $4.33 Million Holdings in Piper Sandler Companies $PIPR

EFG Asset Management North America Corp. decreased its stake in Piper Sandler Companies (NYSE:PIPR) by 11.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,464 shares of the company’s stock after selling 1,632 shares during the period. EFG Asset Management North America Corp.’s holdings in Piper Sandler Companies were worth $4,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in Piper Sandler Companies by 11.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,355 shares of the company’s stock valued at $1,164,000 after purchasing an additional 340 shares during the period. James Investment Research Inc. lifted its stake in shares of Piper Sandler Companies by 1.5% in the third quarter. James Investment Research Inc. now owns 11,137 shares of the company’s stock valued at $3,864,000 after buying an additional 162 shares during the period. Sage Rhino Capital LLC acquired a new stake in Piper Sandler Companies during the third quarter worth about $212,000. Whittier Trust Co. bought a new position in Piper Sandler Companies during the third quarter valued at about $31,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Piper Sandler Companies by 4.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,088 shares of the company’s stock valued at $378,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $355.87 on Tuesday. The business’s fifty day moving average price is $346.96 and its two-hundred day moving average price is $336.25. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $380.26. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 26.82 and a beta of 1.54.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 31st. The company reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The company had revenue of $455.31 million during the quarter, compared to analysts’ expectations of $408.40 million. During the same period last year, the business earned $2.57 earnings per share. The business’s revenue was up 33.3% on a year-over-year basis.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th were given a $0.70 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. Piper Sandler Companies’s payout ratio is 21.10%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $368.00 to $386.00 in a research report on Monday, November 10th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Bank of America initiated coverage on shares of Piper Sandler Companies in a report on Monday. They issued an “underperform” rating and a $385.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday. Finally, Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Piper Sandler Companies presently has a consensus rating of “Hold” and a consensus price target of $389.67.

Insider Buying and Selling at Piper Sandler Companies

In other 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 value of $825,825.00. Following the completion of the transaction, the president owned 2,896 shares in the company, valued at approximately $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad R. Abraham sold 4,400 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $337.60, for a total value of $1,485,440.00. Following the sale, the chief executive officer owned 53,558 shares in the company, valued at approximately $18,081,180.80. This trade represents a 7.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,267 shares of company stock worth $3,763,746 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.