Atria Investments Inc Lowers Stake in Piper Sandler Companies (NYSE:PIPR)

Atria Investments Inc reduced its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,095 shares of the financial services provider’s stock after selling 241 shares during the period. Atria Investments Inc’s holdings in Piper Sandler Companies were worth $595,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Creative Planning raised its holdings in Piper Sandler Companies by 34.8% in the third quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock worth $2,636,000 after buying an additional 2,399 shares during the last quarter. Moody Aldrich Partners LLC raised its holdings in Piper Sandler Companies by 14.8% in the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock worth $6,869,000 after buying an additional 3,124 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Piper Sandler Companies by 1.9% in the second quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after buying an additional 610 shares during the last quarter. Millennium Management LLC raised its holdings in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after buying an additional 30,942 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Piper Sandler Companies in the first quarter worth about $90,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 0.8 %

Shares of PIPR stock opened at $335.39 on Wednesday. The company has a 50 day moving average price of $309.59 and a 200-day moving average price of $286.50. Piper Sandler Companies has a 52 week low of $151.03 and a 52 week high of $347.15. The firm has a market capitalization of $5.96 billion, a PE ratio of 35.83 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last announced 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 net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.78%. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

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

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.