Versor Investments LP Invests $880,000 in Piper Sandler Companies (NYSE:PIPR)

Versor Investments LP purchased a new position in Piper Sandler Companies (NYSE:PIPR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,100 shares of the financial services provider's stock, valued at approximately $880,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider's stock valued at $391,264,000 after buying an additional 20,891 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Piper Sandler Companies by 7.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider's stock valued at $56,677,000 after acquiring an additional 19,662 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Piper Sandler Companies by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider's stock valued at $39,162,000 after purchasing an additional 9,380 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock valued at $17,908,000 after purchasing an additional 30,942 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Piper Sandler Companies by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 57,090 shares of the financial services provider's stock worth $13,141,000 after purchasing an additional 2,510 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Performance

NYSE PIPR traded down $3.17 on Wednesday, hitting $334.26. 89,300 shares of the stock were exchanged, compared to its average volume of 108,909. Piper Sandler Companies has a 52-week low of $147.03 and a 52-week high of $347.15. The firm has a market capitalization of $5.94 billion, a P/E ratio of 35.71 and a beta of 1.39. The stock has a fifty day moving average price of $302.82 and a two-hundred day moving average price of $281.78.

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

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies's payout ratio is currently 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.