Citigroup Inc. Purchases 8,337 Shares of Piper Sandler Companies (NYSE:PIPR)

Citigroup Inc. lifted its holdings in Piper Sandler Companies (NYSE:PIPR) by 63.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,496 shares of the financial services provider’s stock after purchasing an additional 8,337 shares during the period. Citigroup Inc. owned 0.12% of Piper Sandler Companies worth $6,101,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PIPR. Blue Trust Inc. increased its stake in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 74 shares during the period. nVerses Capital LLC boosted its stake in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas bought a new stake in Piper Sandler Companies in the third quarter valued at $77,000. CWM LLC raised its stake in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares in the last quarter. Finally, FSC Wealth Advisors LLC lifted its holdings in shares of 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 valued at $80,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $342.99 on Monday. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $152.59 and a twelve month high of $351.80. The firm has a fifty day simple moving average of $324.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The firm had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued 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 0.76%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

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.