Cynosure Group LLC Acquires New Position in Piper Sandler Companies (NYSE:PIPR)

Cynosure Group LLC bought a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,296 shares of the financial services provider’s stock, valued at approximately $368,000.

A number of other hedge funds have also bought and sold shares of PIPR. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 74 shares during the period. nVerses Capital LLC increased its holdings in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares during the period. USA Financial Formulas purchased a new position in Piper Sandler Companies during the 3rd quarter worth approximately $77,000. CWM LLC lifted its stake in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares during the period. Finally, FSC Wealth Advisors LLC boosted its holdings 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 valued at $80,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analysts Set New Price Targets

PIPR has been the subject of several recent research reports. JMP Securities reissued 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 Price Performance

NYSE:PIPR opened at $341.71 on Friday. The company has a 50 day moving average price of $321.94 and a 200-day moving average price of $294.13. Piper Sandler Companies has a 1-year low of $151.96 and a 1-year high of $351.80. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 36.51 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data 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. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. On average, sell-side analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date 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.