Mutual of America Capital Management LLC Decreases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Mutual of America Capital Management LLC lowered its position in shares of Piper Sandler Companies (NYSE:PIPR) by 6.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,382 shares of the financial services provider’s stock after selling 175 shares during the period. Mutual of America Capital Management LLC’s holdings in Piper Sandler Companies were worth $676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PIPR. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Piper Sandler Companies in the second quarter valued at approximately $10,139,000. Millennium Management LLC grew its stake in shares of Piper Sandler Companies by 66.0% in the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after buying an additional 30,942 shares in the last quarter. Nicholas Investment Partners LP bought a new position in shares of Piper Sandler Companies during the 2nd quarter valued at $5,950,000. Sei Investments Co. raised its stake in shares of Piper Sandler Companies by 101.2% in the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock valued at $10,282,000 after acquiring an additional 22,471 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Piper Sandler Companies by 1,576.2% in the 2nd quarter. SG Americas Securities LLC now owns 20,081 shares of the financial services provider’s stock valued at $4,622,000 after buying an additional 18,883 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $343.04 on Wednesday. The stock has a 50-day simple moving average of $317.71 and a 200 day simple moving average of $292.04. Piper Sandler Companies has a 52 week low of $151.03 and a 52 week high of $351.80. The stock has a market capitalization of $6.10 billion, a P/E ratio of 36.65 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The firm had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

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.