Glenmede Trust Co. NA Raises Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Glenmede Trust Co. NA raised its stake in Piper Sandler Companies (NYSE:PIPR) by 16.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,933 shares of the financial services provider’s stock after purchasing an additional 545 shares during the period. Glenmede Trust Co. NA’s holdings in Piper Sandler Companies were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PIPR. Blue Trust Inc. grew its stake 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 last quarter. nVerses Capital LLC grew its stake 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 during the last quarter. USA Financial Formulas acquired a new position in shares of Piper Sandler Companies during the third quarter valued at about $77,000. FSC Wealth Advisors LLC raised its position 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 purchasing an additional 97 shares during the last quarter. Finally, CWM LLC boosted its stake in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

PIPR stock opened at $342.96 on Tuesday. The company has a market capitalization of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39. Piper Sandler Companies has a 12 month low of $155.75 and a 12 month high of $351.80. The firm’s fifty day simple moving average is $326.59 and its 200-day simple moving average is $296.62.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PIPR shares. 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 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.