Jane Street Group LLC Cuts Position in Piper Sandler Companies (NYSE:PIPR)

Jane Street Group LLC reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 37.9% in the third quarter, HoldingsChannel reports. The firm owned 9,018 shares of the financial services provider’s stock after selling 5,504 shares during the period. Jane Street Group LLC’s holdings in Piper Sandler Companies were worth $2,559,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PIPR. Blue Trust Inc. lifted its position in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Piper Sandler Companies by 1.9% during the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after purchasing an additional 610 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Piper Sandler Companies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after purchasing an additional 9,380 shares in the last quarter. Legato Capital Management LLC purchased a new position in Piper Sandler Companies during the 2nd quarter worth $757,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Piper Sandler Companies by 2.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 56,837 shares of the financial services provider’s stock valued at $13,082,000 after buying an additional 1,491 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Friday. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Up 1.7 %

NYSE:PIPR opened at $297.75 on Monday. The firm has a market capitalization of $5.29 billion, a P/E ratio of 31.81 and a beta of 1.43. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80. The business’s fifty day moving average is $329.12.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results 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 analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. 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.