Philadelphia Financial Management of San Francisco LLC Invests $6.11 Million in Piper Sandler Companies (NYSE:PIPR)

Philadelphia Financial Management of San Francisco LLC bought a new stake in Piper Sandler Companies (NYSE:PIPR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,514 shares of the financial services provider’s stock, valued at approximately $6,106,000. Piper Sandler Companies accounts for 1.0% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 29th largest holding. Philadelphia Financial Management of San Francisco LLC owned about 0.12% of Piper Sandler Companies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cerity Partners LLC boosted its stake in shares of Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after buying an additional 2,819 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Piper Sandler Companies during the 3rd quarter worth approximately $624,000. Victory Capital Management Inc. increased its position in shares of 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 shares of Piper Sandler Companies in the 3rd quarter valued at $880,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Down 2.4 %

PIPR stock opened at $334.71 on Wednesday. The stock has a market cap of $5.95 billion, a P/E ratio of 35.76 and a beta of 1.43. Piper Sandler Companies has a twelve month low of $155.75 and a twelve month high of $351.80. The company’s 50 day moving average is $328.42 and its two-hundred day moving average is $297.14.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating 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, equities research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

Analysts Set New Price Targets

PIPR has been the subject of a number of analyst reports. 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.

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.