Martingale Asset Management L P Trims Holdings in Piper Sandler Companies (NYSE:PIPR)

Martingale Asset Management L P cut its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 15.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,679 shares of the financial services provider's stock after selling 1,988 shares during the quarter. Martingale Asset Management L P owned 0.06% of Piper Sandler Companies worth $3,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. Cerity Partners LLC raised its stake in shares of Piper Sandler Companies by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider's stock worth $4,558,000 after buying an additional 2,819 shares in the last quarter. Versor Investments LP acquired a new position in Piper Sandler Companies during the third quarter worth $880,000. Victory Capital Management Inc. raised its position in Piper Sandler Companies by 20.6% in the third quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider's stock worth $4,509,000 after acquiring an additional 2,713 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider's stock worth $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Piper Sandler Companies by 8.1% during the 3rd quarter. Natixis Advisors LLC now owns 19,838 shares of the financial services provider's stock worth $5,630,000 after purchasing an additional 1,487 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PIPR has been the topic of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a 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 Stock Performance

Shares of PIPR stock traded up $1.28 during mid-day trading on Friday, reaching $342.99. The stock had a trading volume of 46,400 shares, compared to its average volume of 111,316. The firm has a market capitalization of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39. Piper Sandler Companies has a 12-month low of $152.59 and a 12-month high of $351.80. The firm's 50-day moving average is $324.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.04. The firm had revenue of $359.57 million for the quarter, compared to analysts' expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, equities analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. Piper Sandler Companies's dividend payout ratio is currently 27.78%.

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.