Captrust Financial Advisors Sells 750 Shares of Piper Sandler Companies (NYSE:PIPR)

Captrust Financial Advisors cut its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 24.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,351 shares of the financial services provider’s stock after selling 750 shares during the period. Captrust Financial Advisors’ holdings in Piper Sandler Companies were worth $667,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Cerity Partners LLC lifted its stake in shares of Piper Sandler Companies by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 2,819 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Piper Sandler Companies during the third quarter valued at about $624,000. Citigroup Inc. boosted its holdings in shares of Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after buying an additional 8,337 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Piper Sandler Companies by 20.6% in the 3rd quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock worth $4,509,000 after buying an additional 2,713 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 0.8 %

PIPR opened at $323.11 on Wednesday. The company has a market cap of $5.74 billion, a P/E ratio of 34.52 and a beta of 1.43. The firm’s 50-day moving average price is $337.32 and its 200-day moving average price is $301.30. Piper Sandler Companies has a 52-week low of $162.20 and a 52-week high of $351.80.

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. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. On average, research analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

Analyst Upgrades and Downgrades

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

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.