Principal Financial Group Inc. Reduces Stake in Piper Sandler Companies (NYSE:PIPR)

Principal Financial Group Inc. cut its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 75,307 shares of the financial services provider’s stock after selling 2,403 shares during the quarter. Principal Financial Group Inc.’s holdings in Piper Sandler Companies were worth $21,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. boosted its holdings in Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 41 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of 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 valued at $524,000 after purchasing an additional 46 shares in the last quarter. Xponance Inc. boosted its stake in shares of Piper Sandler Companies by 4.6% during 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 in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after buying an additional 54 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 56 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on PIPR shares. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Friday, December 20th.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $303.53 on Thursday. The firm’s 50-day moving average price is $324.97 and its 200-day moving average price is $308.24. The company has a market capitalization of $5.40 billion, a PE ratio of 32.43 and a beta of 1.43. Piper Sandler Companies has a 1-year low of $162.50 and a 1-year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $365.07 million. Equities analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s payout ratio 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.