Edgestream Partners L.P. Sells 3,484 Shares of Piper Sandler Companies (NYSE:PIPR)

Edgestream Partners L.P. reduced its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,534 shares of the financial services provider's stock after selling 3,484 shares during the quarter. Edgestream Partners L.P. owned 0.06% of Piper Sandler Companies worth $2,990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock worth $26,000 after purchasing an additional 74 shares during the last quarter. nVerses Capital LLC increased its position in Piper Sandler Companies by 100.0% in 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 during the period. USA Financial Formulas acquired a new position in shares of Piper Sandler Companies during the third quarter valued at $77,000. CWM LLC increased its holdings 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 purchasing an additional 57 shares during the period. Finally, FSC Wealth Advisors LLC increased its holdings 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 purchasing an additional 97 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Monday, October 28th. JMP Securities restated 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 down $0.03 during trading on Monday, hitting $342.96. 95,900 shares of the stock were exchanged, compared to its average volume of 107,604. Piper Sandler Companies has a 1-year low of $155.75 and a 1-year high of $351.80. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39. The company's fifty day simple moving average is $326.59 and its 200-day simple moving average is $296.62.

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

Piper Sandler Companies Dividend Announcement

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