The Manufacturers Life Insurance Company Raises Stake in Piper Sandler Companies (NYSE:PIPR)

The Manufacturers Life Insurance Company grew its holdings in Piper Sandler Companies (NYSE:PIPR) by 3.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,032 shares of the financial services provider’s stock after acquiring an additional 348 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Piper Sandler Companies were worth $2,847,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Park Avenue Securities LLC lifted its position in Piper Sandler Companies by 6.3% during the 2nd quarter. Park Avenue Securities LLC now owns 2,735 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 161 shares during the period. SG Americas Securities LLC grew its position in Piper Sandler Companies by 1,576.2% in the 2nd quarter. SG Americas Securities LLC now owns 20,081 shares of the financial services provider’s stock valued at $4,622,000 after buying an additional 18,883 shares during the last quarter. FSC Wealth Advisors LLC increased its stake in 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 buying an additional 97 shares during the period. Blue Trust Inc. raised its position in 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 during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Piper Sandler Companies by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock worth $1,795,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $333.15 on Friday. Piper Sandler Companies has a one year low of $155.75 and a one year high of $351.80. The firm has a market capitalization of $5.92 billion, a P/E ratio of 35.59 and a beta of 1.43. The company’s fifty day moving average is $334.31 and its two-hundred day moving average is $300.24.

Piper Sandler Companies (NYSE:PIPR) last released 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. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. On average, sell-side analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Piper Sandler Companies 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.