Principal Financial Group Inc. Sells 2,403 Shares of Piper Sandler Companies (NYSE:PIPR)

Principal Financial Group Inc. decreased its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,307 shares of the financial services provider's stock after selling 2,403 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Piper Sandler Companies worth $21,373,000 as of its most recent SEC filing.

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

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock traded down $2.48 during trading hours on Thursday, hitting $331.78. The company's stock had a trading volume of 31,005 shares, compared to its average volume of 108,540. The company has a market capitalization of $5.90 billion, a PE ratio of 35.47 and a beta of 1.39. The stock has a 50 day moving average of $302.82 and a 200 day moving average of $281.78. Piper Sandler Companies has a 12 month low of $147.03 and a 12 month high of $347.15.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results 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 firm had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Equities analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

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

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Monday, October 28th.

Insider Activity

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

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.