American Century Companies Inc. Grows Position in Piper Sandler Companies (NYSE:PIPR)

Posted by Defense World Staff on Jun 8th, 2023

American Century Companies Inc. raised its position in Piper Sandler Companies (NYSE:PIPR – Get Rating) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,568 shares of the company’s stock after buying an additional 14,925 shares during the quarter. American Century Companies Inc. owned approximately 0.70% of Piper Sandler Companies worth $16,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Ronald Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 97.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 247 shares of the company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Piper Sandler Companies in the 4th quarter valued at $27,000. Quadrant Capital Group LLC increased its stake in Piper Sandler Companies by 44.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 408 shares of the company’s stock valued at $43,000 after buying an additional 126 shares during the period. Tower Research Capital LLC TRC raised its position in Piper Sandler Companies by 105.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $134,000 after buying an additional 655 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Piper Sandler Companies by 30.4% in the 3rd quarter. UBS Group AG now owns 1,837 shares of the company’s stock worth $193,000 after acquiring an additional 428 shares during the period. 64.00% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Up 3.6 %

Shares of NYSE PIPR opened at $137.29 on Thursday. The firm’s 50-day moving average is $131.63 and its two-hundred day moving average is $138.03. The company has a market capitalization of $2.44 billion, a PE ratio of 23.39 and a beta of 1.37. Piper Sandler Companies has a 12-month low of $102.60 and a 12-month high of $162.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.41 and a quick ratio of 0.39.

Piper Sandler Companies (NYSE:PIPR – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.96. Piper Sandler Companies had a return on equity of 15.38% and a net margin of 7.25%. The company had revenue of $290.24 million during the quarter, compared to the consensus estimate of $299.34 million. During the same quarter last year, the business posted $3.12 earnings per share. Piper Sandler Companies’s revenue was down 19.9% compared to the same quarter last year. Equities analysts anticipate that Piper Sandler Companies will post 8.86 EPS for the current fiscal year.

Piper Sandler Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 26th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, May 25th. Piper Sandler Companies’s dividend payout ratio is currently 40.89%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Piper Sandler Companies in a report on Thursday, May 18th. They set a “hold” rating for the company. JMP Securities cut their target price on Piper Sandler Companies from $180.00 to $174.00 and set a “market outperform” rating for the company in a research note on Monday, April 10th. Finally, Northland Securities reduced their target price on Piper Sandler Companies from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, March 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.00.

Insider Activity

In related news, CEO Chad R. Abraham sold 1,970 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $130.05, for a total transaction of $256,198.50. Following the transaction, the chief executive officer now directly owns 29,646 shares in the company, valued at $3,855,462.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Chad R. Abraham sold 2,223 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $130.27, for a total transaction of $289,590.21. Following the completion of the sale, the chief executive officer now owns 27,222 shares in the company, valued at approximately $3,546,209.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Abraham sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $130.05, for a total transaction of $256,198.50. Following the sale, the chief executive officer now owns 29,646 shares of the company’s stock, valued at $3,855,462.30. The disclosure for this sale can be found here. Insiders sold a total of 16,850 shares of company stock valued at $2,156,042 over the last quarter. Company insiders own 3.32% of the company’s stock.

Piper Sandler Companies Company Profile

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Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.