Bridgewater Associates LP Takes $1.43 Million Position in Piper Sandler Companies (NYSE:PIPR)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. Bank of Montreal Can grew its position 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 buying an additional 46 shares during the last quarter. Xponance Inc. grew its holdings in shares of Piper Sandler Companies by 4.6% during the second 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 last quarter. Commonwealth Equity Services LLC raised its position in shares of Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider's stock worth $539,000 after purchasing an additional 54 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Piper Sandler Companies by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock worth $1,422,000 after purchasing an additional 56 shares during the period. Finally, CWM LLC boosted its position in Piper Sandler Companies by 22.5% during 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. 72.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Piper Sandler Companies Price Performance

PIPR stock traded down $0.03 on Monday, reaching $342.96. The company's stock had a trading volume of 95,925 shares, compared to its average volume of 107,604. Piper Sandler Companies has a 52 week low of $155.75 and a 52 week high of $351.80. The company has a market capitalization of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39. The business has a fifty day simple moving average of $324.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The company had revenue of $359.57 million during the quarter, compared to analysts' expectations of $365.07 million. Research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. Piper Sandler Companies's dividend payout ratio (DPR) is 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.