Concurrent Investment Advisors LLC Takes $201,000 Position in Piper Sandler Companies (NYSE:PIPR)

Concurrent Investment Advisors LLC bought a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 707 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in shares of Piper Sandler Companies by 14.6% in the first quarter. BNP Paribas Financial Markets now owns 13,951 shares of the financial services provider’s stock valued at $2,769,000 after buying an additional 1,779 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Piper Sandler Companies by 2.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 13,303 shares of the financial services provider’s stock valued at $2,641,000 after acquiring an additional 307 shares in the last quarter. SG Americas Securities LLC acquired a new position in Piper Sandler Companies during the first quarter worth about $238,000. Sei Investments Co. lifted its holdings in shares of Piper Sandler Companies by 68.1% in the first quarter. Sei Investments Co. now owns 22,204 shares of the financial services provider’s stock valued at $4,408,000 after purchasing an additional 8,994 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Piper Sandler Companies by 1,473.3% in the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 1,326 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Up 2.3 %

NYSE:PIPR opened at $342.04 on Tuesday. Piper Sandler Companies has a 12-month low of $140.01 and a 12-month high of $347.15. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 36.54 and a beta of 1.39. The company’s 50-day moving average is $298.86 and its two-hundred day moving average is $279.62.

Piper Sandler Companies (NYSE:PIPR) last announced 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 for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.18%. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

PIPR has been the subject of several research reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

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.