Jacobs Levy Equity Management Inc. Makes New $729,000 Investment in Piper Sandler Companies (NYSE:PIPR)

Jacobs Levy Equity Management Inc. purchased a new stake in Piper Sandler Companies (NYSE:PIPR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,569 shares of the financial services provider’s stock, valued at approximately $729,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its holdings in 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 buying an additional 74 shares during the period. nVerses Capital LLC increased its position in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 100 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies during the third quarter worth $77,000. CWM LLC lifted its position in Piper Sandler Companies by 22.5% in 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 in the last quarter. Finally, FSC Wealth Advisors LLC boosted its stake in 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 purchasing an additional 97 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note 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 Price Performance

Shares of NYSE:PIPR opened at $325.68 on Tuesday. The company’s 50-day moving average price is $336.01 and its two-hundred day moving average price is $300.99. Piper Sandler Companies has a one year low of $162.20 and a one year high of $351.80. The stock has a market capitalization of $5.79 billion, a PE ratio of 34.79 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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 $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 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.