Piper Sandler Companies (NYSE:PIPR) Shares Bought by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 21.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,060 shares of the financial services provider's stock after acquiring an additional 2,819 shares during the period. Cerity Partners LLC owned about 0.09% of Piper Sandler Companies worth $4,558,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. increased its position 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 worth $26,000 after purchasing an additional 74 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Piper Sandler Companies in the third quarter valued at approximately $77,000. CWM LLC lifted its stake in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after buying an additional 57 shares during the period. Finally, FSC Wealth Advisors LLC lifted its stake in shares of Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider's stock valued at $80,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Up 0.4 %

Shares of PIPR traded up $1.28 during mid-day trading on Friday, hitting $342.99. The company had a trading volume of 46,400 shares, compared to its average volume of 107,655. Piper Sandler Companies has a 1-year low of $152.59 and a 1-year high of $351.80. The business's 50-day simple moving average is $324.46 and its 200-day simple moving average is $295.22. The stock has a market cap 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 posted its quarterly 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 company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. On average, sell-side analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.65 dividend. 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 payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

Several research firms have commented on PIPR. StockNews.com cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report 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.