Arete Wealth Advisors LLC Acquires New Shares in Piper Sandler Companies (NYSE:PIPR)

Arete Wealth Advisors LLC bought a new position in Piper Sandler Companies (NYSE:PIPR) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,104 shares of the financial services provider’s stock, valued at approximately $310,000.

Several other large investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its stake in shares of Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after buying an additional 41 shares during the period. Bank of Montreal Can lifted its holdings in shares of Piper Sandler Companies by 2.1% during the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 46 shares during the period. Xponance Inc. lifted its holdings in shares of Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 48 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 54 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 56 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research 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 Up 0.4 %

Shares of PIPR opened at $342.99 on Friday. The firm’s fifty day simple moving average is $324.46 and its two-hundred day simple moving average is $295.22. Piper Sandler Companies has a 12 month low of $152.59 and a 12 month high of $351.80. The stock has a market capitalization of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. The business 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 predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Piper Sandler Companies Company 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.