Piper Sandler Companies (NYSE:PIPR) Stock Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,307 shares of the financial services provider’s stock after selling 2,403 shares during the period. Principal Financial Group Inc.’s holdings in Piper Sandler Companies were worth $21,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of Piper Sandler Companies by 194.7% in 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 in the last quarter. nVerses Capital LLC grew its holdings in 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 during the period. USA Financial Formulas bought a new stake in Piper Sandler Companies in the third quarter worth about $77,000. FSC Wealth Advisors LLC raised its position in Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares in the last quarter. Finally, CWM LLC lifted its holdings 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 during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Trading Down 0.9 %

Shares of PIPR opened at $334.26 on Thursday. The business’s 50-day moving average price is $302.82 and its 200 day moving average price is $281.78. The stock has a market capitalization of $5.94 billion, a P/E ratio of 35.71 and a beta of 1.39. Piper Sandler Companies has a 1-year low of $147.03 and a 1-year high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share 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 the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced 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. This represents a $2.60 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PIPR. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Insider Activity

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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.