2,569 Shares in Piper Sandler Companies (NYSE:PIPR) Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,569 shares of the financial services provider's stock, valued at approximately $729,000.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in shares of Piper Sandler Companies by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider's stock valued at $524,000 after purchasing an additional 46 shares during the last quarter. Xponance Inc. lifted its stake in shares of Piper Sandler Companies by 4.6% in the 2nd quarter. Xponance Inc. now owns 1,101 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 48 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Piper Sandler Companies by 2.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider's stock valued at $539,000 after purchasing an additional 54 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Piper Sandler Companies by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock worth $1,422,000 after acquiring an additional 56 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PIPR. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

PIPR traded down $2.57 during trading on Tuesday, hitting $323.11. 104,200 shares of the stock were exchanged, compared to its average volume of 106,811. The firm has a 50 day simple moving average of $337.32 and a 200 day simple moving average of $301.30. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 34.52 and a beta of 1.43. Piper Sandler Companies has a 1 year low of $162.20 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. The company 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%. As a group, equities analysts anticipate 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 declared 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 0.80%. Piper Sandler Companies's dividend payout ratio is presently 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.