Fred Alger Management LLC Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Fred Alger Management LLC acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 51,600 shares of the financial services provider’s stock, valued at approximately $14,645,000. Fred Alger Management LLC owned approximately 0.29% of Piper Sandler Companies as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted 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 purchasing an additional 74 shares in the last quarter. nVerses Capital LLC boosted 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 buying an additional 100 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $77,000. FSC Wealth Advisors LLC raised its stake in Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares in the last quarter. Finally, CWM LLC lifted its position in Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $342.99 on Friday. The firm’s fifty day moving average is $324.46 and its two-hundred day moving average is $295.22. Piper Sandler Companies has a one year low of $152.59 and a one year high of $351.80. The firm has a market cap of $6.10 billion, a PE ratio of 36.64 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.