State Street Corp Raises Holdings in Piper Sandler Companies (NYSE:PIPR)

State Street Corp increased its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 682,430 shares of the financial services provider's stock after purchasing an additional 2,137 shares during the period. State Street Corp owned 3.84% of Piper Sandler Companies worth $193,680,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PIPR. Bank of Montreal Can lifted its position in shares of Piper Sandler Companies by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider's stock worth $524,000 after buying an additional 46 shares during the last quarter. Xponance Inc. lifted its position in Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider's stock valued at $253,000 after acquiring an additional 48 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 54 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Piper Sandler Companies by 1.1% during the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock worth $1,422,000 after purchasing an additional 56 shares during the last quarter. Finally, CWM LLC increased its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR traded down $1.65 on Friday, reaching $318.96. The company's stock had a trading volume of 74,500 shares, compared to its average volume of 106,778. Piper Sandler Companies has a 52-week low of $162.50 and a 52-week high of $351.80. The stock has a market capitalization of $5.67 billion, a P/E ratio of 34.08 and a beta of 1.43. The stock's 50-day moving average is $335.19 and its two-hundred day moving average is $303.62.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly 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 analysts' expectations of $365.07 million. Equities analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PIPR shares. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a report 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.