UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,212 Shares of Piper Sandler Companies (NYSE:PIPR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 10.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,005 shares of the financial services provider's stock after selling 4,212 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.20% of Piper Sandler Companies worth $9,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Glenmede Trust Co. NA lifted its holdings in shares of Piper Sandler Companies by 16.1% during the third quarter. Glenmede Trust Co. NA now owns 3,933 shares of the financial services provider's stock worth $1,116,000 after buying an additional 545 shares in the last quarter. Bridgewater Associates LP acquired a new stake in shares of Piper Sandler Companies during the third quarter worth $1,429,000. Cynosure Group LLC acquired a new stake in shares of Piper Sandler Companies during the third quarter worth $368,000. BNP Paribas Financial Markets raised its stake in Piper Sandler Companies by 22.3% in the third quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider's stock valued at $2,615,000 after purchasing an additional 1,681 shares in the last quarter. Finally, FMR LLC raised its stake in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Piper Sandler Companies Price Performance

PIPR stock traded down $7.47 during midday trading on Monday, reaching $325.68. The company had a trading volume of 84,800 shares, compared to its average volume of 106,822. Piper Sandler Companies has a 1-year low of $162.20 and a 1-year high of $351.80. The stock has a 50 day moving average price of $336.01 and a 200-day moving average price of $300.99. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 34.79 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released 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 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. As a group, research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PIPR shares. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

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.