Citigroup Inc. Has $6.10 Million Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Citigroup Inc. grew its position in shares of Piper Sandler Companies (NYSE:PIPR) by 63.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,496 shares of the financial services provider’s stock after acquiring an additional 8,337 shares during the quarter. Citigroup Inc. owned 0.12% of Piper Sandler Companies worth $6,101,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Piper Sandler Companies by 194.7% during 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 during the last quarter. nVerses Capital LLC grew its holdings in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas bought a new position in Piper Sandler Companies during the third quarter worth about $77,000. FSC Wealth Advisors LLC raised its stake in Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 97 shares during the period. Finally, CWM LLC lifted its stake 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 buying an additional 57 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Up 0.4 %

Shares of Piper Sandler Companies stock opened at $342.99 on Monday. The firm’s 50 day moving average is $324.46. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39. Piper Sandler Companies has a 1 year low of $152.59 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $365.07 million. As a group, equities research analysts predict that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

PIPR has been the subject of a number of recent research reports. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report 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.

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.