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

Bridgewater Associates LP bought a new position in Piper Sandler Companies (NYSE:PIPR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,036 shares of the financial services provider's stock, valued at approximately $1,429,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider's stock worth $4,558,000 after purchasing an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider's stock valued at $58,245,000 after acquiring an additional 2,689 shares in the last quarter. Victory Capital Management Inc. grew its position in Piper Sandler Companies by 20.6% during the 3rd quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider's stock worth $4,509,000 after purchasing an additional 2,713 shares in the last quarter. Versor Investments LP acquired a new stake in Piper Sandler Companies during the 3rd quarter valued at $880,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Piper Sandler Companies in the third quarter worth $624,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

PIPR traded down $0.03 on Monday, hitting $342.96. The company had a trading volume of 95,925 shares, compared to its average volume of 107,604. Piper Sandler Companies has a 1-year low of $155.75 and a 1-year high of $351.80. The stock's fifty day simple moving average is $324.46. The company has a market capitalization of $6.10 billion, a PE ratio of 36.64 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results 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 firm had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given 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 dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a report 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 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.