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

Public Sector Pension Investment Board decreased its position in Piper Sandler Companies (NYSE:PIPR) by 1.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,600 shares of the financial services provider’s stock after selling 600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Piper Sandler Companies were worth $9,536,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Glenmede Trust Co. NA lifted its stake in shares of Piper Sandler Companies by 16.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,933 shares of the financial services provider’s stock valued at $1,116,000 after acquiring an additional 545 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of Piper Sandler Companies during the third quarter valued at approximately $1,429,000. Cynosure Group LLC purchased a new stake in shares of Piper Sandler Companies during the third quarter valued at approximately $368,000. BNP Paribas Financial Markets grew its holdings in shares of Piper Sandler Companies by 22.3% in the third quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider’s stock worth $2,615,000 after purchasing an additional 1,681 shares during the last quarter. Finally, FMR LLC increased 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 period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded 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 %

Shares of PIPR stock opened at $342.99 on Friday. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39. The stock has a fifty day moving average of $324.46 and a 200 day moving average of $295.22. Piper Sandler Companies has a 52 week low of $152.59 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. The firm 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%. Equities research analysts anticipate 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. Shareholders of record on Friday, November 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.76%. Piper Sandler Companies’s payout ratio is 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.