MML Investors Services LLC boosted its position in shares of Piper Sandler Companies (NYSE:PIPR – Free Report) by 4.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,790 shares of the financial services provider’s stock after buying an additional 74 shares during the period. MML Investors Services LLC’s holdings in Piper Sandler Companies were worth $508,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Piper Sandler Companies by 194.7% in the 2nd 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 during the last quarter. nVerses Capital LLC lifted its stake in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas bought a new stake in Piper Sandler Companies during the third quarter worth approximately $77,000. CWM LLC grew its position in Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after buying an additional 95 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PIPR. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Friday. 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
PIPR stock opened at $297.75 on Monday. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 31.81 and a beta of 1.43. Piper Sandler Companies has a 52-week low of $162.50 and a 52-week high of $351.80. The company’s 50 day moving average price is $329.12.
Piper Sandler Companies (NYSE:PIPR – Get Free Report) last announced its earnings results 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 net margin of 10.84% and a return on equity of 16.06%. The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. 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 was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given 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 0.87%. 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.
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