Cerity Partners LLC Buys 2,819 Shares of Piper Sandler Companies (NYSE:PIPR)

Cerity Partners LLC raised its position in Piper Sandler Companies (NYSE:PIPR) by 21.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 16,060 shares of the financial services provider’s stock after buying an additional 2,819 shares during the period. Cerity Partners LLC’s holdings in Piper Sandler Companies were worth $4,558,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings 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 acquiring an additional 74 shares during the last quarter. nVerses Capital LLC lifted its position 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 valued at $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas bought a new position in shares of Piper Sandler Companies in the 3rd quarter valued at about $77,000. FSC Wealth Advisors LLC grew its position in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after buying an additional 97 shares during the period. Finally, CWM LLC raised its stake 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 buying an additional 57 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $341.71 on Friday. The company has a 50 day moving average price of $321.94 and a two-hundred day moving average price of $294.13. The company has a market capitalization of $6.08 billion, a PE ratio of 36.51 and a beta of 1.39. Piper Sandler Companies has a 52 week low of $151.96 and a 52 week high of $351.80.

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 (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, sell-side analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

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

Analyst Ratings Changes

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

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.