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

Principal Financial Group Inc. lessened its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,307 shares of the financial services provider's stock after selling 2,403 shares during the period. Principal Financial Group Inc. owned about 0.42% of Piper Sandler Companies worth $21,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. nVerses Capital LLC raised its position in shares of Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas purchased a new position in shares of Piper Sandler Companies in the third quarter valued at about $77,000. CWM LLC boosted its stake in shares of Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after acquiring an additional 57 shares during the period. KBC Group NV grew its position in shares of Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider's stock worth $156,000 after purchasing an additional 95 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Piper Sandler Companies by 486.6% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider's stock valued at $186,000 after purchasing an additional 545 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PIPR shares. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com raised shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a research note on Friday, December 20th.

Piper Sandler Companies Trading Up 0.8 %

Shares of NYSE:PIPR traded up $2.45 during mid-day trading on Thursday, reaching $305.98. The stock had a trading volume of 57,700 shares, compared to its average volume of 107,009. The business's 50 day moving average price is $323.55 and its 200 day moving average price is $308.66. Piper Sandler Companies has a 1 year low of $162.50 and a 1 year high of $351.80. The company has a market cap of $5.44 billion, a P/E ratio of 32.69 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share 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 firm had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is 27.78%.

About Piper Sandler Companies

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.