HighTower Advisors LLC Sells 42 Shares of Piper Sandler Companies (NYSE:PIPR)

HighTower Advisors LLC reduced its position in Piper Sandler Companies (NYSE:PIPR) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 2,285 shares of the financial services provider’s stock after selling 42 shares during the quarter. HighTower Advisors LLC’s holdings in Piper Sandler Companies were worth $650,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PIPR. Fred Alger Management LLC bought a new position in shares of Piper Sandler Companies in the third quarter valued at approximately $14,645,000. Verition Fund Management LLC purchased a new stake in Piper Sandler Companies in the 3rd quarter valued at $1,647,000. Walleye Capital LLC lifted its stake in Piper Sandler Companies by 43.7% during the 3rd quarter. Walleye Capital LLC now owns 2,394 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 728 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in Piper Sandler Companies by 16.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,933 shares of the financial services provider’s stock worth $1,116,000 after acquiring an additional 545 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new position in Piper Sandler Companies during the 3rd quarter worth $1,429,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 1.2 %

Shares of PIPR opened at $292.63 on Friday. The stock has a 50 day moving average of $330.59 and a 200 day moving average of $306.23. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 31.26 and a beta of 1.43. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80.

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

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.89%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Analyst Upgrades and Downgrades

PIPR has been the subject of several analyst reports. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note 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.