Verition Fund Management LLC Invests $1.65 Million in Piper Sandler Companies (NYSE:PIPR)

Verition Fund Management LLC acquired a new position in Piper Sandler Companies (NYSE:PIPR) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,802 shares of the financial services provider’s stock, valued at approximately $1,647,000.

A number of other hedge funds have also recently made changes to their positions in the business. Walleye Capital LLC boosted its stake in shares of Piper Sandler Companies by 43.7% in the third quarter. Walleye Capital LLC now owns 2,394 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 728 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Piper Sandler Companies by 16.1% in the third quarter. Glenmede Trust Co. NA now owns 3,933 shares of the financial services provider’s stock worth $1,116,000 after acquiring an additional 545 shares during the period. Bridgewater Associates LP bought a new position in shares of Piper Sandler Companies in the third quarter worth about $1,429,000. Cynosure Group LLC bought a new position in shares of Piper Sandler Companies in the third quarter worth about $368,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Piper Sandler Companies by 22.3% in the third quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider’s stock worth $2,615,000 after acquiring an additional 1,681 shares during the period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 0.4 %

Shares of Piper Sandler Companies stock opened at $333.15 on Friday. The stock has a 50 day moving average of $334.31 and a 200 day moving average of $299.79. Piper Sandler Companies has a 12 month low of $155.75 and a 12 month high of $351.80. The firm has a market cap of $5.92 billion, a PE ratio of 35.59 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $365.07 million. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.78%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analysts Forecast Growth

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

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.