Piper Sandler Companies (NYSE:PIPR) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 24.9% during the third quarter, Holdings Channel.com reports. The fund owned 10,534 shares of the financial services provider’s stock after selling 3,484 shares during the period. Edgestream Partners L.P.’s holdings in Piper Sandler Companies were worth $2,990,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Bank of Montreal Can increased its stake 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 valued at $524,000 after acquiring an additional 46 shares during the period. Xponance Inc. grew its position in Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock worth $253,000 after buying an additional 48 shares during the last quarter. Commonwealth Equity Services LLC grew its position in 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 buying an additional 54 shares during the last quarter. Harbor Capital Advisors Inc. grew its position 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 worth $1,422,000 after buying an additional 56 shares during the last quarter. Finally, CWM LLC grew 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 worth $88,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $342.99 on Monday. Piper Sandler Companies has a twelve month low of $152.59 and a twelve month high of $351.80. The stock has a market cap of $6.10 billion, a PE ratio of 36.64 and a beta of 1.39. The business’s 50 day moving average price is $324.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 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 disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

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.