HighTower Advisors LLC Sells 42 Shares of Piper Sandler Companies (NYSE:PIPR)

HighTower Advisors LLC decreased its stake in Piper Sandler Companies (NYSE:PIPR) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,285 shares of the financial services provider’s stock after selling 42 shares during the period. HighTower Advisors LLC’s holdings in Piper Sandler Companies were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PIPR. Blue Trust Inc. boosted its holdings in Piper Sandler Companies by 194.7% in 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 last quarter. nVerses Capital LLC boosted its stake in shares of 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 purchasing an additional 100 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies in the 3rd quarter valued at $77,000. CWM LLC increased its position in shares of 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 buying an additional 57 shares during the period. Finally, KBC Group NV raised its stake in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $292.63 on Friday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 31.26 and a beta of 1.43. Piper Sandler Companies has a 52-week low of $162.50 and a 52-week high of $351.80. The stock’s 50 day moving average price is $330.59 and its two-hundred day moving average price is $306.23.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, equities research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PIPR. 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 reissued 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.