Intech Investment Management LLC Acquires 1,584 Shares of Piper Sandler Companies (NYSE:PIPR)

Intech Investment Management LLC raised its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 29.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,956 shares of the financial services provider's stock after acquiring an additional 1,584 shares during the period. Intech Investment Management LLC's holdings in Piper Sandler Companies were worth $1,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PIPR. Russell Investments Group Ltd. grew its holdings in Piper Sandler Companies by 1,473.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider's stock worth $281,000 after buying an additional 1,326 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider's stock valued at $391,264,000 after purchasing an additional 20,891 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Piper Sandler Companies by 11.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,981 shares of the financial services provider's stock valued at $790,000 after purchasing an additional 422 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Piper Sandler Companies by 6.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 14,117 shares of the financial services provider's stock worth $2,798,000 after purchasing an additional 860 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Piper Sandler Companies in the 1st quarter valued at about $1,025,000. Institutional investors and hedge funds own 72.79% of the company's stock.

Piper Sandler Companies Trading Up 2.7 %

PIPR traded up $9.36 during trading on Monday, reaching $350.07. The company had a trading volume of 36,418 shares, compared to its average volume of 107,709. Piper Sandler Companies has a 12-month low of $151.03 and a 12-month high of $350.58. The firm has a market capitalization of $6.22 billion, a P/E ratio of 37.21 and a beta of 1.39. The company has a 50-day moving average of $313.83.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (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 for the quarter, compared to analyst estimates of $365.07 million. Analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.74%. Piper Sandler Companies's dividend payout ratio is 27.78%.

Analyst Upgrades and Downgrades

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

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.