PNC Financial Services Group Inc. Lowers Stock Position in Piper Sandler Companies (NYSE:PIPR)

PNC Financial Services Group Inc. cut its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,450 shares of the financial services provider’s stock after selling 51 shares during the period. PNC Financial Services Group Inc.’s holdings in Piper Sandler Companies were worth $979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. raised its position in Piper Sandler Companies by 194.7% in the second 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 lifted its stake in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 100 shares in the last quarter. USA Financial Formulas acquired a new position in Piper Sandler Companies in the 3rd quarter valued at about $77,000. FSC Wealth Advisors LLC increased its stake in Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 97 shares during the period. Finally, CWM LLC lifted its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 0.4 %

Shares of Piper Sandler Companies stock opened at $341.71 on Thursday. Piper Sandler Companies has a 52-week low of $151.96 and a 52-week high of $351.80. The company has a market capitalization of $6.08 billion, a P/E ratio of 36.51 and a beta of 1.39. The company has a 50 day moving average of $319.85 and a 200 day moving average of $293.04.

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%. As a group, research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share 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. Stockholders of record on Friday, November 22nd will be given 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 is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Analyst Ratings Changes

PIPR has been the topic of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note 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.