Piper Sandler Companies (NYSE:PIPR) Shares Sold by Algert Global LLC

Algert Global LLC reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 48.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,310 shares of the financial services provider’s stock after selling 8,840 shares during the period. Algert Global LLC owned about 0.05% of Piper Sandler Companies worth $2,642,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

PIPR has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note 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 Stock Performance

Shares of NYSE:PIPR opened at $343.04 on Wednesday. The company’s fifty day moving average is $317.71 and its two-hundred day moving average is $292.04. Piper Sandler Companies has a 1-year low of $151.03 and a 1-year high of $351.80. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 36.65 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million for 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%. Sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

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.