State Street Corp Acquires 2,137 Shares of Piper Sandler Companies (NYSE:PIPR)

State Street Corp raised its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 0.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 682,430 shares of the financial services provider’s stock after acquiring an additional 2,137 shares during the period. State Street Corp owned approximately 3.84% of Piper Sandler Companies worth $193,680,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions 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 purchasing an additional 74 shares during the period. nVerses Capital LLC lifted its holdings in shares of Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares during the period. USA Financial Formulas purchased a new position in shares of Piper Sandler Companies in the 3rd quarter worth $77,000. CWM LLC boosted its stake 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 worth $88,000 after buying an additional 57 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

PIPR has been the topic of a number of recent research reports. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $320.61 on Friday. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 34.25 and a beta of 1.43. The business has a fifty day moving average price of $335.81 and a 200-day moving average price of $302.82. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80.

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. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. On average, equities research analysts expect 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 will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 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.