Edgestream Partners L.P. Sells 3,484 Shares of Piper Sandler Companies (NYSE:PIPR)

Edgestream Partners L.P. trimmed its stake in Piper Sandler Companies (NYSE:PIPR) by 24.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,534 shares of the financial services provider’s stock after selling 3,484 shares during the period. Edgestream Partners L.P. owned 0.06% of Piper Sandler Companies worth $2,990,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PIPR. Price T Rowe Associates Inc. MD raised its position in shares of Piper Sandler Companies by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,751 shares of the financial services provider’s stock worth $2,135,000 after acquiring an additional 638 shares in the last quarter. Comerica Bank raised its position in shares of Piper Sandler Companies by 7.0% in the 1st quarter. Comerica Bank now owns 8,819 shares of the financial services provider’s stock worth $1,751,000 after acquiring an additional 575 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Piper Sandler Companies by 11.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,954 shares of the financial services provider’s stock worth $1,140,000 after acquiring an additional 494 shares in the last quarter. Park Avenue Securities LLC increased its position in Piper Sandler Companies by 6.3% during the 2nd quarter. Park Avenue Securities LLC now owns 2,735 shares of the financial services provider’s stock valued at $629,000 after buying an additional 161 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Piper Sandler Companies during the 2nd quarter valued at about $209,000. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Up 0.4 %

Shares of NYSE:PIPR opened at $342.99 on Monday. The company’s 50-day simple moving average is $324.46. Piper Sandler Companies has a 1 year low of $152.59 and a 1 year high of $351.80. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, equities 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 declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.76%. Piper Sandler Companies’s payout ratio is presently 27.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

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.