Bridgewater Associates LP Makes New $1.43 Million Investment in Piper Sandler Companies (NYSE:PIPR)

Bridgewater Associates LP acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,036 shares of the financial services provider’s stock, valued at approximately $1,429,000.

Several other large investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in Piper Sandler Companies by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after buying an additional 46 shares in the last quarter. Xponance Inc. lifted its stake in shares of Piper Sandler Companies by 4.6% in the 2nd quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 48 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Piper Sandler Companies by 2.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 54 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 56 shares during the period. Finally, CWM LLC lifted its stake in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PIPR shares. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $342.99 on Monday. The firm has a market cap of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39. Piper Sandler Companies has a 12 month low of $152.59 and a 12 month high of $351.80. The business’s fifty day simple moving average is $324.46.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 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%. Equities research analysts predict 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 paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is presently 27.78%.

About Piper Sandler Companies

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.