Piper Sandler Companies (NYSE:PIPR) Shares Sold by Algert Global LLC

Algert Global LLC lessened its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 48.7% during the third quarter, Holdings Channel.com reports. The fund owned 9,310 shares of the financial services provider’s stock after selling 8,840 shares during the period. Algert Global LLC’s holdings in Piper Sandler Companies were worth $2,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in 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 during the last quarter. nVerses Capital LLC lifted its stake in Piper Sandler Companies by 100.0% during the second 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 last quarter. USA Financial Formulas bought a new stake in Piper Sandler Companies during the third quarter worth approximately $77,000. CWM LLC grew its position in 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 buying an additional 57 shares during the last quarter. Finally, FSC Wealth Advisors LLC increased its holdings 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 buying an additional 97 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 1.7 %

Shares of NYSE:PIPR opened at $343.04 on Wednesday. The company has a market cap of $6.10 billion, a P/E ratio of 36.65 and a beta of 1.39. The company’s fifty day moving average is $317.71 and its two-hundred day moving average is $292.04. Piper Sandler Companies has a 12-month low of $151.03 and a 12-month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) 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 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 during the quarter, compared to the consensus estimate of $365.07 million. Equities research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JMP Securities reaffirmed 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 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.