Piper Sandler Companies (NYSE:PIPR) Shares Acquired by Fmr LLC

Fmr LLC boosted its holdings in Piper Sandler Companies (NYSE:PIPR) by 49.0% during the third quarter, HoldingsChannel reports. The fund owned 625,048 shares of the financial services provider’s stock after buying an additional 205,584 shares during the period. Fmr LLC’s holdings in Piper Sandler Companies were worth $177,395,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Piper Sandler Companies by 6.4% in the third quarter. Loomis Sayles & Co. L P now owns 193,983 shares of the financial services provider’s stock valued at $55,055,000 after buying an additional 11,607 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Piper Sandler Companies by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after buying an additional 9,380 shares during the period. Fisher Asset Management LLC increased its position in shares of Piper Sandler Companies by 9.0% during the third quarter. Fisher Asset Management LLC now owns 145,321 shares of the financial services provider’s stock valued at $41,244,000 after acquiring an additional 11,964 shares during the last quarter. Finally, Millennium Management LLC raised 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 acquiring an additional 30,942 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $342.96 on Tuesday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39. The firm has a 50 day simple moving average of $326.59 and a 200-day simple moving average of $296.62. Piper Sandler Companies has a one year low of $155.75 and a one year high of $351.80.

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

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.76%. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Analyst Ratings Changes

A number of research firms recently weighed in on PIPR. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 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.