Algert Global LLC Sells 8,840 Shares of Piper Sandler Companies (NYSE:PIPR)

Algert Global LLC cut its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 48.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,310 shares of the financial services provider's stock after selling 8,840 shares during the quarter. Algert Global LLC owned about 0.05% of Piper Sandler Companies worth $2,642,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings 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 during the last quarter. nVerses Capital LLC raised its position in shares of Piper Sandler Companies by 100.0% in 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 period. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies during the 3rd quarter worth about $77,000. CWM LLC lifted its stake in shares of Piper Sandler Companies by 22.5% during the 3rd 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, FSC Wealth Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider's stock worth $80,000 after buying an additional 97 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Down 0.4 %

Shares of Piper Sandler Companies stock traded down $1.33 during trading on Wednesday, reaching $341.71. The company's stock had a trading volume of 71,900 shares, compared to its average volume of 107,921. The business's 50-day moving average price is $319.85 and its 200-day moving average price is $293.04. Piper Sandler Companies has a 52 week low of $151.96 and a 52 week high of $351.80. The firm has a market cap of $6.08 billion, a PE ratio of 36.51 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $365.07 million. Equities analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 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%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Monday, October 28th.

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.