Swiss National Bank Reduces Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Swiss National Bank reduced its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,600 shares of the financial services provider’s stock after selling 200 shares during the period. Swiss National Bank owned approximately 0.20% of Piper Sandler Companies worth $9,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after acquiring an additional 20,891 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Piper Sandler Companies by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock valued at $39,162,000 after purchasing an additional 9,380 shares in the last quarter. Millennium Management LLC increased its stake in Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after purchasing an additional 30,942 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Piper Sandler Companies by 4.6% in the second quarter. Envestnet Asset Management Inc. now owns 57,090 shares of the financial services provider’s stock worth $13,141,000 after buying an additional 2,510 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Piper Sandler Companies by 2.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 56,837 shares of the financial services provider’s stock worth $13,082,000 after buying an additional 1,491 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note 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 Trading Up 0.1 %

Piper Sandler Companies stock opened at $340.71 on Monday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 36.40 and a beta of 1.39. The stock has a 50 day moving average of $313.83. Piper Sandler Companies has a 12 month low of $151.03 and a 12 month high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The company 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%. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 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.