Intech Investment Management LLC Raises Position in Piper Sandler Companies (NYSE:PIPR)

Intech Investment Management LLC increased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 29.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,956 shares of the financial services provider’s stock after purchasing an additional 1,584 shares during the period. Intech Investment Management LLC’s holdings in Piper Sandler Companies were worth $1,974,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares in the last quarter. nVerses Capital LLC raised its position 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 worth $46,000 after acquiring an additional 100 shares in the last quarter. USA Financial Formulas acquired a new stake in Piper Sandler Companies in the third quarter valued at $77,000. CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. Finally, FSC Wealth Advisors LLC increased its holdings in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Up 0.1 %

Piper Sandler Companies stock opened at $340.71 on Monday. The stock has a 50-day simple moving average of $313.83. Piper Sandler Companies has a 52 week low of $151.03 and a 52 week high of $347.15. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 36.40 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly 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. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

About Piper Sandler Companies

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.