Geode Capital Management LLC Raises Holdings in Piper Sandler Companies (NYSE:PIPR)

Geode Capital Management LLC raised its stake in Piper Sandler Companies (NYSE:PIPR) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,586 shares of the financial services provider’s stock after purchasing an additional 7,344 shares during the period. Geode Capital Management LLC’s holdings in Piper Sandler Companies were worth $107,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in PIPR. Blue Trust Inc. raised its holdings in Piper Sandler Companies by 194.7% in 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 in the last quarter. nVerses Capital LLC lifted its holdings in shares of Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Piper Sandler Companies in the 3rd quarter valued at about $77,000. CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the period. Finally, KBC Group NV increased its position in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PIPR. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Trading Down 5.1 %

Shares of PIPR opened at $296.13 on Thursday. Piper Sandler Companies has a twelve month low of $162.50 and a twelve month high of $351.80. The firm has a market capitalization of $5.27 billion, a P/E ratio of 31.64 and a beta of 1.43. The firm’s 50-day moving average is $332.07 and its two-hundred day moving average is $305.73.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million for 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%. Analysts predict that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) 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.