JPMorgan Chase & Co. Trims Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

JPMorgan Chase & Co. lowered its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,987 shares of the financial services provider’s stock after selling 2,190 shares during the quarter. JPMorgan Chase & Co. owned 1.84% of Piper Sandler Companies worth $93,086,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after acquiring an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after buying an additional 2,689 shares during the period. Barclays PLC lifted its holdings in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after buying an additional 24,388 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Piper Sandler Companies during the third quarter valued at $624,000. Finally, Citigroup Inc. raised its holdings in shares of Piper Sandler Companies by 63.4% in the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after acquiring an additional 8,337 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PIPR shares. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

PIPR opened at $299.31 on Friday. The firm has a market capitalization of $5.32 billion, a PE ratio of 31.98 and a beta of 1.43. The business’s 50-day moving average is $314.98 and its two-hundred day moving average is $309.79. Piper Sandler Companies has a 1 year low of $162.50 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data 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. The firm 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%. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm 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 0.87%. Piper Sandler Companies’s dividend payout ratio is presently 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.