Intech Investment Management LLC Boosts Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Intech Investment Management LLC boosted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 29.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,956 shares of the financial services provider’s stock after acquiring an additional 1,584 shares during the period. Intech Investment Management LLC’s holdings in Piper Sandler Companies were worth $1,974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PIPR. Blue Trust Inc. lifted 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 purchasing an additional 74 shares during the last quarter. nVerses Capital LLC raised its position in Piper Sandler Companies by 100.0% in 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 period. USA Financial Formulas acquired a new position in Piper Sandler Companies during the third quarter worth $77,000. FSC Wealth Advisors LLC grew its stake 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. Finally, CWM LLC raised its holdings in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PIPR. StockNews.com lowered 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 report on Tuesday, September 17th.

Piper Sandler Companies Trading Up 0.1 %

Shares of NYSE:PIPR opened at $340.71 on Monday. Piper Sandler Companies has a fifty-two week low of $151.03 and a fifty-two week high of $347.15. The company has a 50 day moving average price of $313.83. The firm has a market capitalization of $6.06 billion, a PE ratio of 36.40 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released 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. The business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, research analysts predict that Piper Sandler Companies will post 11.49 EPS 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. Stockholders of record on Friday, November 22nd will be issued a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. Piper Sandler Companies’s payout ratio is currently 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.