PNC Financial Services Group Inc. Trims Stock Position in Piper Sandler Companies (NYSE:PIPR)

PNC Financial Services Group Inc. decreased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,450 shares of the financial services provider’s stock after selling 51 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Piper Sandler Companies were worth $979,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in PIPR. Natixis Advisors LLC increased its position in Piper Sandler Companies by 8.1% during the third quarter. Natixis Advisors LLC now owns 19,838 shares of the financial services provider’s stock worth $5,630,000 after buying an additional 1,487 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Piper Sandler Companies by 2.7% during the third quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 58 shares during the last quarter. KBC Group NV increased its holdings in shares of Piper Sandler Companies by 20.9% in the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 95 shares during the period. Victory Capital Management Inc. raised its position in Piper Sandler Companies by 20.6% in the 3rd quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock valued at $4,509,000 after purchasing an additional 2,713 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Piper Sandler Companies during the 3rd quarter worth $880,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR opened at $341.71 on Thursday. The stock has a fifty day moving average price of $319.85 and a 200 day moving average price of $293.04. Piper Sandler Companies has a 1-year low of $151.96 and a 1-year high of $351.80. The company has a market cap of $6.08 billion, a PE ratio of 36.51 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million during 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 16.06%. Analysts anticipate 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 given a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

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

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.