Victory Capital Management Inc. Raises Stock Position in Piper Sandler Companies (NYSE:PIPR)

Victory Capital Management Inc. grew its holdings in Piper Sandler Companies (NYSE:PIPR) by 20.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 15,889 shares of the financial services provider’s stock after acquiring an additional 2,713 shares during the period. Victory Capital Management Inc.’s holdings in Piper Sandler Companies were worth $4,509,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. nVerses Capital LLC lifted its stake in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas bought a new position in shares of Piper Sandler Companies during the 3rd quarter valued at about $77,000. CWM LLC grew its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. Finally, FSC Wealth Advisors LLC increased its holdings in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 0.1 %

NYSE PIPR opened at $340.71 on Friday. Piper Sandler Companies has a 12-month low of $151.03 and a 12-month high of $347.15. The company has a fifty day simple moving average of $313.83 and a two-hundred day simple moving average of $289.87. The stock has a market cap of $6.06 billion, a P/E ratio of 36.40 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.65 per share. 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 payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent research reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report 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.