Verition Fund Management LLC Purchases New Holdings in Piper Sandler Companies (NYSE:PIPR)

Verition Fund Management LLC acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,802 shares of the financial services provider's stock, valued at approximately $1,647,000.

A number of other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. nVerses Capital LLC lifted its stake in shares of Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after buying an additional 100 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies during the 3rd quarter worth $77,000. FSC Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 97 shares during the last quarter. Finally, CWM LLC boosted its stake in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 72.79% of the company's stock.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Performance

NYSE PIPR traded up $1.44 during trading on Friday, reaching $333.15. 74,900 shares of the company traded hands, compared to its average volume of 89,109. Piper Sandler Companies has a 1-year low of $155.75 and a 1-year high of $351.80. The stock's 50 day moving average price is $334.31 and its two-hundred day moving average price is $300.24. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 35.59 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $359.57 million for the quarter, compared to analysts' expectations of $365.07 million. Equities research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed 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. 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 payout ratio is presently 27.78%.

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.