Geode Capital Management LLC Boosts Holdings in Piper Sandler Companies (NYSE:PIPR)

Geode Capital Management LLC boosted its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,586 shares of the financial services provider's stock after purchasing an additional 7,344 shares during the quarter. Geode Capital Management LLC owned approximately 2.12% of Piper Sandler Companies worth $107,184,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock worth $26,000 after acquiring an additional 74 shares in the last quarter. nVerses Capital LLC grew its holdings in Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Piper Sandler Companies during the third quarter worth $77,000. CWM LLC lifted its holdings 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 valued at $88,000 after purchasing an additional 57 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider's stock valued at $156,000 after purchasing an additional 95 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Down 1.2 %

Shares of NYSE PIPR traded down $3.50 during midday trading on Thursday, reaching $292.63. The company had a trading volume of 113,385 shares, compared to its average volume of 106,774. Piper Sandler Companies has a 1 year low of $162.50 and a 1 year high of $351.80. The business's 50-day simple moving average is $332.07 and its 200 day simple moving average is $305.73. The stock has a market cap of $5.20 billion, a P/E ratio of 31.26 and a beta of 1.43.

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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $365.07 million. Analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies's payout ratio is 27.78%.

Wall Street Analyst Weigh In

Several research analysts 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 lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note 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.