MML Investors Services LLC Boosts Holdings in Piper Sandler Companies (NYSE:PIPR)

MML Investors Services LLC raised its position in Piper Sandler Companies (NYSE:PIPR) by 4.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,790 shares of the financial services provider’s stock after buying an additional 74 shares during the quarter. MML Investors Services LLC’s holdings in Piper Sandler Companies were worth $508,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PIPR. Taika Capital LP acquired a new position in shares of Piper Sandler Companies during the third quarter worth about $890,000. State Street Corp boosted its holdings in Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after purchasing an additional 2,137 shares in the last quarter. Systematic Financial Management LP increased its position in Piper Sandler Companies by 3.4% during the 3rd quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock worth $55,724,000 after purchasing an additional 6,507 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Piper Sandler Companies by 5.7% in the 3rd quarter. Quantinno Capital Management LP now owns 2,642 shares of the financial services provider’s stock valued at $750,000 after buying an additional 142 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $6,106,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $297.75 on Monday. The stock has a market cap of $5.29 billion, a P/E ratio of 31.81 and a beta of 1.43. The company’s 50-day simple moving average is $329.12. Piper Sandler Companies has a twelve month low of $162.50 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released 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 business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Company 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.