Piper Sandler Companies (NYSE:PIPR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Piper Sandler Companies (NYSE:PIPR) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,307 shares of the financial services provider’s stock after selling 2,403 shares during the period. Principal Financial Group Inc. owned 0.42% of Piper Sandler Companies worth $21,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Tidal Investments LLC boosted its stake in Piper Sandler Companies by 75.7% during the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock worth $1,732,000 after purchasing an additional 2,629 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Piper Sandler Companies in the third quarter worth about $310,000. Coldstream Capital Management Inc. boosted its position in Piper Sandler Companies by 2.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 41 shares during the last quarter. Geode Capital Management LLC grew its stake in Piper Sandler Companies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares in the last quarter. Finally, Vestcor Inc raised its holdings in Piper Sandler Companies by 23.5% in the 3rd quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 863 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PIPR. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Friday, December 20th.

Piper Sandler Companies Trading Up 1.3 %

Shares of PIPR opened at $303.53 on Thursday. Piper Sandler Companies has a 12-month low of $162.50 and a 12-month high of $351.80. The firm has a market capitalization of $5.40 billion, a P/E ratio of 32.43 and a beta of 1.43. The firm has a 50-day moving average price of $324.97 and a 200 day moving average price of $308.24.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.04. The business 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%. Equities research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

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.