Edgestream Partners L.P. Lowers Stake in Piper Sandler Companies (NYSE:PIPR)

Edgestream Partners L.P. reduced its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 24.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 hedge funds have also recently modified their holdings of PIPR. FMR LLC lifted its holdings in shares of Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock valued at $177,395,000 after purchasing an additional 205,584 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at about $14,645,000. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Piper Sandler Companies during the 2nd quarter valued at approximately $10,139,000. Millennium Management LLC raised its position in shares of 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 worth $17,908,000 after acquiring an additional 30,942 shares during the period. Finally, Nicholas Investment Partners LP purchased a new position in Piper Sandler Companies during the second quarter worth approximately $5,950,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Performance

NYSE PIPR traded down $0.03 during trading on Monday, reaching $342.96. 95,900 shares of the company's stock were exchanged, compared to its average volume of 107,604. The stock has a market cap 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 company has a 50 day moving average price of $326.59 and a two-hundred day moving average price of $296.62.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating 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 business had revenue of $359.57 million during the quarter, compared to analysts' expectations of $365.07 million. Research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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