Edgestream Partners L.P. Lowers Holdings in Piper Sandler Companies (NYSE:PIPR)

Edgestream Partners L.P. decreased its stake in Piper Sandler Companies (NYSE:PIPR) by 24.9% during the third quarter, Holdings Channel reports. The institutional investor owned 10,534 shares of the financial services provider’s stock after selling 3,484 shares during the quarter. Edgestream Partners L.P.’s holdings in Piper Sandler Companies were worth $2,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after buying an additional 205,584 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after buying an additional 2,689 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Piper Sandler Companies by 6.4% in the third quarter. Loomis Sayles & Co. L P now owns 193,983 shares of the financial services provider’s stock worth $55,055,000 after buying an additional 11,607 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Piper Sandler Companies by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after buying an additional 9,380 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Piper Sandler Companies by 9.0% in the 3rd quarter. Fisher Asset Management LLC now owns 145,321 shares of the financial services provider’s stock worth $41,244,000 after purchasing an additional 11,964 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Up 0.4 %

NYSE PIPR opened at $342.99 on Monday. The firm has a market cap of $6.10 billion, a PE ratio of 36.64 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $152.59 and a twelve month high of $351.80. The business has a 50-day simple moving average of $324.46.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $365.07 million. As a group, equities analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.65 per share. 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.