Mutual of America Capital Management LLC Cuts Stock Position in Piper Sandler Companies (NYSE:PIPR)

Mutual of America Capital Management LLC cut its stake in Piper Sandler Companies (NYSE:PIPR) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,382 shares of the financial services provider’s stock after selling 175 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Piper Sandler Companies were worth $676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas acquired a new stake in Piper Sandler Companies during the third quarter worth about $77,000. FSC Wealth Advisors LLC increased its stake in Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PIPR. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

PIPR stock opened at $343.04 on Wednesday. The stock’s 50 day moving average price is $317.71 and its 200 day moving average price is $292.04. The firm has a market cap of $6.10 billion, a P/E ratio of 36.65 and a beta of 1.39. Piper Sandler Companies has a 1 year low of $151.03 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating 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 firm had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. On average, research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company 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 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 dividend payout ratio (DPR) is 27.78%.

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.