The Manufacturers Life Insurance Company Boosts Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

The Manufacturers Life Insurance Company increased its stake in Piper Sandler Companies (NYSE:PIPR) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,032 shares of the financial services provider’s stock after acquiring an additional 348 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Piper Sandler Companies worth $2,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Loomis Sayles & Co. L P increased its holdings in Piper Sandler Companies by 6.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 193,983 shares of the financial services provider’s stock worth $55,055,000 after purchasing an additional 11,607 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Piper Sandler Companies in the third quarter valued at approximately $624,000. Fisher Asset Management LLC lifted its stake in Piper Sandler Companies by 9.0% in the third quarter. Fisher Asset Management LLC now owns 145,321 shares of the financial services provider’s stock worth $41,244,000 after acquiring an additional 11,964 shares during the last quarter. Cerity Partners LLC grew its holdings in Piper Sandler Companies by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after acquiring an additional 2,819 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after purchasing an additional 8,337 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PIPR shares. 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 report on Tuesday, September 17th.

Piper Sandler Companies Trading Up 0.4 %

PIPR stock opened at $333.15 on Friday. The company’s 50 day moving average is $334.31 and its two-hundred day moving average is $300.24. Piper Sandler Companies has a twelve month low of $155.75 and a twelve month high of $351.80. The stock has a market cap of $5.92 billion, a P/E ratio of 35.59 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating 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 analysts’ expectations of $365.07 million. On average, equities 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 announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued 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 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.