Swiss National Bank Trims Holdings in Piper Sandler Companies (NYSE:PIPR)

Swiss National Bank trimmed its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 0.6% during the third quarter, HoldingsChannel.com reports. The firm owned 34,600 shares of the financial services provider’s stock after selling 200 shares during the quarter. Swiss National Bank’s holdings in Piper Sandler Companies were worth $9,820,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PIPR. Blue Trust Inc. boosted 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 purchasing an additional 74 shares during the period. nVerses Capital LLC boosted 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 buying an additional 100 shares during the period. USA Financial Formulas purchased a new position in Piper Sandler Companies during the third quarter worth about $77,000. CWM LLC increased its stake in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the last quarter. Finally, FSC Wealth Advisors LLC raised its holdings in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

PIPR opened at $340.71 on Monday. The stock has a market cap of $6.06 billion, a PE ratio of 36.40 and a beta of 1.39. The business has a 50-day moving average price of $313.83. Piper Sandler Companies has a 12-month low of $151.03 and a 12-month high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results 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 analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

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.