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

Atria Investments Inc lessened its position in shares of Piper Sandler Companies (NYSE:PIPR) by 10.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,095 shares of the financial services provider’s stock after selling 241 shares during the quarter. Atria Investments Inc’s holdings in Piper Sandler Companies were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mesirow Institutional Investment Management Inc. acquired a new stake in Piper Sandler Companies during the 2nd quarter worth approximately $10,139,000. Millennium Management LLC raised its holdings in Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after purchasing an additional 30,942 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in Piper Sandler Companies during the second quarter worth $5,950,000. Sei Investments Co. raised its holdings in Piper Sandler Companies by 101.2% during the second quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock worth $10,282,000 after purchasing an additional 22,471 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Piper Sandler Companies by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,971,201 shares of the financial services provider’s stock worth $391,264,000 after buying an additional 20,891 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $335.39 on Wednesday. The stock’s 50-day moving average is $309.59 and its two-hundred day moving average is $286.50. The stock has a market cap of $5.96 billion, a PE ratio of 35.83 and a beta of 1.39. Piper Sandler Companies has a 12 month low of $151.03 and a 12 month high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS 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 for the quarter, compared to analysts’ expectations of $365.07 million. On average, research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid 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 (DPR) is 27.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PIPR shares. JMP Securities reaffirmed 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 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.