Public Sector Pension Investment Board Sells 600 Shares of Piper Sandler Companies (NYSE:PIPR)

Public Sector Pension Investment Board lowered its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,600 shares of the financial services provider’s stock after selling 600 shares during the period. Public Sector Pension Investment Board owned 0.19% of Piper Sandler Companies worth $9,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of PIPR. Blue Trust Inc. raised its holdings in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares in the last quarter. nVerses Capital LLC increased 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 worth $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas bought a new position in Piper Sandler Companies during the third quarter valued at $77,000. FSC Wealth Advisors LLC grew its stake 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 worth $80,000 after buying an additional 97 shares in the last quarter. Finally, CWM LLC increased 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 worth $88,000 after buying an additional 57 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $342.99 on Friday. Piper Sandler Companies has a fifty-two week low of $152.59 and a fifty-two week high of $351.80. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39. The business’s 50 day moving average price is $324.46 and its 200-day moving average price is $295.22.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million for 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%. Sell-side analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com lowered 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 research note 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.