Principal Financial Group Inc. Has $21.37 Million Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Principal Financial Group Inc. cut its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,307 shares of the financial services provider's stock after selling 2,403 shares during the period. Principal Financial Group Inc. owned 0.43% of Piper Sandler Companies worth $21,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Mesirow Institutional Investment Management Inc. bought a new position in Piper Sandler Companies during the second quarter worth about $10,139,000. Millennium Management LLC raised its stake in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock valued at $17,908,000 after buying an additional 30,942 shares during the period. Nicholas Investment Partners LP bought a new position in shares of Piper Sandler Companies during the 2nd quarter worth approximately $5,950,000. Sei Investments Co. increased its holdings in shares of Piper Sandler Companies by 101.2% during the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider's stock worth $10,282,000 after acquiring an additional 22,471 shares during the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of Piper Sandler Companies by 295.6% during the 1st quarter. Edgestream Partners L.P. now owns 29,404 shares of the financial services provider's stock worth $5,836,000 after acquiring an additional 21,972 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at $4,840,556.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Piper Sandler Companies Price Performance

PIPR traded down $2.48 during trading on Thursday, hitting $331.78. The stock had a trading volume of 31,005 shares, compared to its average volume of 108,540. The company has a 50 day moving average price of $302.82 and a 200-day moving average price of $281.78. Piper Sandler Companies has a one year low of $147.03 and a one year high of $347.15. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 35.47 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The company had revenue of $359.57 million during the quarter, compared to analysts' expectations of $365.07 million. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.78%. Piper Sandler Companies's payout ratio is 27.78%.

Analysts Set New Price Targets

PIPR has been the subject of a number of research analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com lowered shares of 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.