Piper Sandler Companies (NYSE:PIPR) Holdings Increased by Systematic Financial Management LP

Systematic Financial Management LP raised its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 196,342 shares of the financial services provider’s stock after purchasing an additional 6,507 shares during the period. Piper Sandler Companies makes up about 1.4% of Systematic Financial Management LP’s investment portfolio, making the stock its 6th largest holding. Systematic Financial Management LP’s holdings in Piper Sandler Companies were worth $55,724,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its stake in Piper Sandler Companies by 5.7% during the 3rd quarter. Quantinno Capital Management LP now owns 2,642 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 142 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in Piper Sandler Companies in the 3rd quarter worth $6,106,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Piper Sandler Companies in the third quarter valued at about $729,000. Fred Alger Management LLC purchased a new position in shares of Piper Sandler Companies in the third quarter valued at about $14,645,000. Finally, Verition Fund Management LLC purchased a new position in shares of Piper Sandler Companies in the third quarter valued at about $1,647,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently 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 cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Piper Sandler Companies Stock Down 0.2 %

PIPR opened at $334.13 on Thursday. The business has a fifty day moving average of $330.37 and a 200 day moving average of $298.01. Piper Sandler Companies has a 52-week low of $155.75 and a 52-week high of $351.80. The stock has a market cap of $5.94 billion, a P/E ratio of 35.70 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results 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 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. Equities analysts anticipate that Piper Sandler Companies will post 11.49 EPS 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 issued a $0.65 dividend. This represents a $2.60 annualized dividend 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 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.