Piper Sandler Companies (NYSE:PIPR) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its position in shares of Piper Sandler Companies (NYSE:PIPR) by 10.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 801 shares of the financial services provider’s stock after selling 94 shares during the period. Stifel Financial Corp’s holdings in Piper Sandler Companies were worth $227,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PIPR. nVerses Capital LLC grew its stake in Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas bought a new position in Piper Sandler Companies during the third quarter valued at approximately $77,000. CWM LLC lifted its stake in Piper Sandler Companies by 22.5% in the third 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. KBC Group NV grew its position in Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 95 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Piper Sandler Companies by 486.6% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 1.6 %

Shares of NYSE PIPR opened at $301.10 on Monday. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80. The company has a market cap of $5.35 billion, a P/E ratio of 32.17 and a beta of 1.43. The stock has a 50 day simple moving average of $322.06.

Piper Sandler Companies (NYSE:PIPR) last released its 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 firm 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%. Sell-side analysts expect 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 was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Analyst Upgrades and Downgrades

Several research firms have commented on PIPR. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday.

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.