Amalgamated Bank Sells 105 Shares of Piper Sandler Companies (NYSE:PIPR)

Amalgamated Bank reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,710 shares of the financial services provider’s stock after selling 105 shares during the period. Amalgamated Bank’s holdings in Piper Sandler Companies were worth $1,337,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Piper Sandler Companies by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after acquiring an additional 20,891 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Piper Sandler Companies by 7.4% in the first quarter. Lord Abbett & CO. LLC now owns 285,542 shares of the financial services provider’s stock worth $56,677,000 after purchasing an additional 19,662 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Piper Sandler Companies by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after purchasing an additional 9,380 shares in the last quarter. Millennium Management LLC increased its stake in shares of Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after purchasing an additional 30,942 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Piper Sandler Companies by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 57,090 shares of the financial services provider’s stock worth $13,141,000 after purchasing an additional 2,510 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Down 0.9 %

PIPR opened at $334.26 on Thursday. The firm has a 50-day moving average price of $302.82 and a 200-day moving average price of $281.78. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 35.71 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $147.03 and a twelve month high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.53 by $0.04. The company 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%. On average, sell-side analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business 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. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.78%. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Insiders Place Their Bets

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PIPR. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Company 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.