Jacobs Levy Equity Management Inc. acquired a new position in Piper Sandler Companies (NYSE:PIPR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,569 shares of the financial services provider's stock, valued at approximately $729,000.
Several other large investors have also recently modified their holdings of PIPR. FMR LLC increased its holdings in 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 period. Fred Alger Management LLC purchased a new position in Piper Sandler Companies during the 3rd quarter valued at about $14,645,000. Mesirow Institutional Investment Management Inc. purchased a new position in Piper Sandler Companies during the 2nd quarter valued at about $10,139,000. Millennium Management LLC increased its holdings in Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock valued at $17,908,000 after purchasing an additional 30,942 shares during the period. Finally, Nicholas Investment Partners LP bought a new stake in Piper Sandler Companies during the 2nd quarter valued at approximately $5,950,000. Hedge funds and other institutional investors own 72.79% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on PIPR. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 28th.
Read Our Latest Stock Analysis on PIPR
Piper Sandler Companies Stock Performance
Shares of PIPR traded down $2.57 during mid-day trading on Tuesday, reaching $323.11. The company had a trading volume of 104,200 shares, compared to its average volume of 106,811. The firm has a 50-day moving average price of $337.32 and a 200 day moving average price of $301.30. Piper Sandler Companies has a 52 week low of $162.20 and a 52 week high of $351.80. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 34.52 and a beta of 1.43.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The firm had revenue of $359.57 million for the quarter, compared to analysts' expectations of $365.07 million. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 0.80%. Piper Sandler Companies's payout ratio is currently 27.78%.
About Piper Sandler Companies
(
Free Report)
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.
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