Everence Capital Management Inc. Lowers Holdings in Piper Sandler Companies (NYSE:PIPR)

Everence Capital Management Inc. reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 31.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,550 shares of the financial services provider’s stock after selling 1,180 shares during the period. Everence Capital Management Inc.’s holdings in Piper Sandler Companies were worth $765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PIPR. State Street Corp increased its holdings in Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after acquiring an additional 2,137 shares during the last quarter. FMR LLC grew its position in shares of Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after purchasing an additional 7,344 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 2,689 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in Piper Sandler Companies by 3.4% during the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after buying an additional 6,507 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th.

Piper Sandler Companies Trading Up 0.7 %

Shares of NYSE:PIPR opened at $301.43 on Friday. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 32.20 and a beta of 1.46. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80. The company has a 50-day moving average price of $313.26 and a 200 day moving average price of $310.44.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) 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 analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, equities analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 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.