Fmr LLC Purchases 205,584 Shares of Piper Sandler Companies (NYSE:PIPR)

FMR LLC lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 49.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 625,048 shares of the financial services provider's stock after acquiring an additional 205,584 shares during the quarter. FMR LLC owned 3.52% of Piper Sandler Companies worth $177,395,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Piper Sandler Companies by 2.1% during the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider's stock worth $524,000 after acquiring an additional 46 shares in the last quarter. Xponance Inc. raised its holdings in shares of Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider's stock worth $253,000 after acquiring an additional 48 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider's stock valued at $539,000 after buying an additional 54 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Piper Sandler Companies by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock valued at $1,422,000 after buying an additional 56 shares in the last quarter. Finally, CWM LLC raised its holdings in 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 buying an additional 57 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Trading Down 1.8 %

PIPR stock traded down $6.09 during trading on Tuesday, reaching $336.87. 19,910 shares of the stock were exchanged, compared to its average volume of 107,223. Piper Sandler Companies has a twelve month low of $155.75 and a twelve month high of $351.80. The company has a market capitalization of $5.99 billion, a P/E ratio of 36.08 and a beta of 1.43. The stock 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 released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Equities analysts predict that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies's payout ratio is 27.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PIPR shares. JMP Securities reaffirmed 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 research report on Monday, October 28th.

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.