Piper Sandler Companies (NYSE:PIPR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,307 shares of the financial services provider’s stock after selling 2,403 shares during the quarter. Principal Financial Group Inc. owned 0.43% of Piper Sandler Companies worth $21,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PIPR. SG Americas Securities LLC acquired a new position in Piper Sandler Companies during the 1st quarter worth $238,000. Sei Investments Co. grew its stake in Piper Sandler Companies by 68.1% in the first quarter. Sei Investments Co. now owns 22,204 shares of the financial services provider’s stock worth $4,408,000 after purchasing an additional 8,994 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Piper Sandler Companies by 1,473.3% in the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock valued at $281,000 after buying an additional 1,326 shares during the last quarter. ProShare Advisors LLC raised its stake in Piper Sandler Companies by 7.6% during the first quarter. ProShare Advisors LLC now owns 3,451 shares of the financial services provider’s stock valued at $685,000 after buying an additional 245 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Piper Sandler Companies by 16.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 55,346 shares of the financial services provider’s stock worth $10,985,000 after buying an additional 7,916 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 0.9 %

Shares of NYSE PIPR opened at $334.26 on Thursday. The firm’s 50-day moving average price is $302.82 and its two-hundred day moving average price is $281.78. Piper Sandler Companies has a 52-week low of $147.03 and a 52-week high of $347.15. The stock has a market capitalization of $5.94 billion, a P/E ratio of 35.71 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results 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 return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. As a group, equities research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a $0.65 dividend. 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 27.78%.

Insider Activity

In related news, Director Philip Soran sold 1,792 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PIPR shares. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

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.