Citigroup Inc. Grows Stock Position in Piper Sandler Companies (NYSE:PIPR)

Citigroup Inc. lifted its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 63.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,496 shares of the financial services provider's stock after acquiring an additional 8,337 shares during the quarter. Citigroup Inc. owned 0.12% of Piper Sandler Companies worth $6,101,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Piper Sandler Companies by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,751 shares of the financial services provider's stock valued at $2,135,000 after acquiring an additional 638 shares in the last quarter. Comerica Bank lifted its stake in shares of Piper Sandler Companies by 7.0% in the first quarter. Comerica Bank now owns 8,819 shares of the financial services provider's stock worth $1,751,000 after buying an additional 575 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Piper Sandler Companies by 11.1% during the second quarter. Harbor Capital Advisors Inc. now owns 4,954 shares of the financial services provider's stock worth $1,140,000 after acquiring an additional 494 shares during the last quarter. Park Avenue Securities LLC grew its stake in Piper Sandler Companies by 6.3% during the 2nd quarter. Park Avenue Securities LLC now owns 2,735 shares of the financial services provider's stock valued at $629,000 after acquiring an additional 161 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in Piper Sandler Companies in the 2nd quarter valued at about $209,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PIPR shares. 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 research report on Tuesday, September 17th.

Piper Sandler Companies Stock Down 0.0 %

PIPR stock traded down $0.03 during mid-day trading on Monday, hitting $342.96. 95,900 shares of the company were exchanged, compared to its average volume of 107,604. Piper Sandler Companies has a 12-month low of $155.75 and a 12-month high of $351.80. The firm 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 $326.59 and a 200-day simple moving average of $296.62.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted 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. The firm had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Research analysts predict that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. Piper Sandler Companies's dividend payout ratio is presently 27.78%.

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.