Cynosure Group LLC Invests $368,000 in Piper Sandler Companies (NYSE:PIPR)

Cynosure Group LLC acquired a new stake in Piper Sandler Companies (NYSE:PIPR) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,296 shares of the financial services provider’s stock, valued at approximately $368,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in Piper Sandler Companies by 2.1% during the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after buying an additional 46 shares in the last quarter. Xponance Inc. raised its holdings in shares of Piper Sandler Companies by 4.6% during the 2nd quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 48 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 54 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 56 shares during the period. Finally, CWM LLC increased its position in 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 during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PIPR. 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 reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Trading Down 0.4 %

Shares of NYSE:PIPR opened at $341.71 on Friday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 36.51 and a beta of 1.39. Piper Sandler Companies has a 12-month low of $151.96 and a 12-month high of $351.80. The business has a 50-day moving average price of $321.94 and a 200 day moving average price of $294.13.

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 for the quarter, beating analysts’ consensus estimates 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, equities research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

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 given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

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.