Piper Sandler Companies (NYSE:PIPR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,987 shares of the financial services provider's stock after selling 2,190 shares during the period. JPMorgan Chase & Co. owned 1.84% of Piper Sandler Companies worth $93,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its stake in shares of 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 worth $539,000 after purchasing an additional 54 shares during the last quarter. nVerses Capital LLC lifted its stake in shares of Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after acquiring an additional 100 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 18.6% in the second quarter. Natixis Advisors LLC now owns 18,351 shares of the financial services provider's stock valued at $4,224,000 after acquiring an additional 2,881 shares in the last quarter. TD Asset Management Inc purchased a new position in Piper Sandler Companies during the second quarter worth about $483,000. Finally, Victory Capital Management Inc. lifted its position in Piper Sandler Companies by 74.7% in the second quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider's stock valued at $3,033,000 after purchasing an additional 5,636 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR stock traded up $2.12 during midday trading on Friday, reaching $301.43. 113,500 shares of the company traded hands, compared to its average volume of 85,700. The firm's 50 day simple moving average is $313.26 and its two-hundred day simple moving average is $310.02. The firm has a market cap of $5.36 billion, a PE ratio of 32.20 and a beta of 1.43. Piper Sandler Companies has a 1-year low of $162.50 and a 1-year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its 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. 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, research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies's payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PIPR shares. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Saturday, December 28th.

Piper Sandler Companies Company 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.