Arete Wealth Advisors LLC Takes $310,000 Position in Piper Sandler Companies (NYSE:PIPR)

Arete Wealth Advisors LLC acquired a new position in Piper Sandler Companies (NYSE:PIPR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,104 shares of the financial services provider’s stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PIPR. Russell Investments Group Ltd. grew its holdings in Piper Sandler Companies by 1,473.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 1,326 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Piper Sandler Companies by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,751 shares of the financial services provider’s stock worth $2,135,000 after purchasing an additional 638 shares during the period. Comerica Bank increased its holdings in Piper Sandler Companies by 7.0% in the first quarter. Comerica Bank now owns 8,819 shares of the financial services provider’s stock valued at $1,751,000 after purchasing an additional 575 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Piper Sandler Companies by 11.1% during the second quarter. Harbor Capital Advisors Inc. now owns 4,954 shares of the financial services provider’s stock worth $1,140,000 after buying an additional 494 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in shares of Piper Sandler Companies by 6.3% during the 2nd quarter. Park Avenue Securities LLC now owns 2,735 shares of the financial services provider’s stock worth $629,000 after buying an additional 161 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on PIPR shares. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note 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 Price Performance

Shares of Piper Sandler Companies stock opened at $342.99 on Friday. The company has a market capitalization of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39. The business has a 50-day moving average of $324.46 and a two-hundred day moving average of $295.22. 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 quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million during 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, equities analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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 issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. Piper Sandler Companies’s payout ratio is 27.78%.

Piper Sandler Companies 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.