Algert Global LLC Sells 8,840 Shares of Piper Sandler Companies (NYSE:PIPR)

Algert Global LLC reduced its position in Piper Sandler Companies (NYSE:PIPR) by 48.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,310 shares of the financial services provider’s stock after selling 8,840 shares during the quarter. Algert Global LLC owned about 0.05% of Piper Sandler Companies worth $2,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PIPR. Blue Trust Inc. boosted its position 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 acquiring an additional 74 shares in the last quarter. nVerses Capital LLC lifted its stake in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the 3rd quarter valued at $77,000. FSC Wealth Advisors LLC increased its stake 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 during the last quarter. Finally, CWM LLC raised its holdings 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 buying an additional 57 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Down 1.7 %

NYSE PIPR opened at $343.04 on Wednesday. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 36.65 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $151.03 and a twelve month high of $351.80. The business’s fifty day moving average is $317.71 and its 200 day moving average is $292.04.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The firm had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. On average, research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given 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 dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note 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 Monday, October 28th.

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.