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

Cerity Partners LLC grew its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 21.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,060 shares of the financial services provider's stock after purchasing an additional 2,819 shares during the quarter. Cerity Partners LLC owned 0.09% of Piper Sandler Companies worth $4,558,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PIPR. Charles Schwab Investment Management Inc. grew its holdings in Piper Sandler Companies by 1.3% during 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 purchasing an additional 2,689 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Piper Sandler Companies by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider's stock worth $39,162,000 after acquiring an additional 9,380 shares in the last quarter. Millennium Management LLC boosted its holdings in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock valued at $17,908,000 after purchasing an additional 30,942 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Piper Sandler Companies by 6.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 60,514 shares of the financial services provider's stock valued at $17,175,000 after purchasing an additional 3,677 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Piper Sandler Companies by 4.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 57,090 shares of the financial services provider's stock worth $13,141,000 after purchasing an additional 2,510 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PIPR shares. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR traded up $1.28 during trading on Friday, reaching $342.99. The stock had a trading volume of 46,400 shares, compared to its average volume of 107,655. 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 has a one year low of $152.59 and a one year high of $351.80. The firm's 50 day moving average price is $324.46 and its two-hundred day moving average price is $295.22.

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, beating the consensus estimate 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. On average, research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

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