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

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PIPR. Charles Schwab Investment Management Inc. grew its stake 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 worth $58,245,000 after buying an additional 2,689 shares during the last quarter. Victory Capital Management Inc. increased its stake in Piper Sandler Companies by 20.6% in the third quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider's stock valued at $4,509,000 after purchasing an additional 2,713 shares during the period. Versor Investments LP purchased a new stake in shares of Piper Sandler Companies in the third quarter valued at about $880,000. Natixis Advisors LLC raised its holdings in shares of Piper Sandler Companies by 8.1% in the third quarter. Natixis Advisors LLC now owns 19,838 shares of the financial services provider's stock valued at $5,630,000 after buying an additional 1,487 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Piper Sandler Companies by 6.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 60,514 shares of the financial services provider's stock worth $17,175,000 after buying an additional 3,677 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PIPR shares. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Monday, October 28th.

Piper Sandler Companies Trading Down 0.0 %

Shares of PIPR traded down $0.03 during mid-day trading on Monday, hitting $342.96. The company's stock had a trading volume of 95,900 shares, compared to its average volume of 107,604. The firm has a market capitalization of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39. Piper Sandler Companies has a 1-year low of $155.75 and a 1-year high of $351.80. The firm has a 50-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 company had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend 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.