Martingale Asset Management L P Cuts Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Martingale Asset Management L P reduced its stake in Piper Sandler Companies (NYSE:PIPR) by 15.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,679 shares of the financial services provider’s stock after selling 1,988 shares during the quarter. Martingale Asset Management L P’s holdings in Piper Sandler Companies were worth $3,031,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PIPR. Price T Rowe Associates Inc. MD raised its holdings in shares of Piper Sandler Companies by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,751 shares of the financial services provider’s stock valued at $2,135,000 after purchasing an additional 638 shares during the last quarter. Comerica Bank lifted its position in shares of Piper Sandler Companies by 7.0% during the 1st quarter. Comerica Bank now owns 8,819 shares of the financial services provider’s stock worth $1,751,000 after buying an additional 575 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Piper Sandler Companies by 11.1% during the 2nd 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 in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Piper Sandler Companies by 6.3% in 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 last quarter. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in shares of Piper Sandler Companies during the second quarter valued at approximately $209,000. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Trading Up 0.4 %

Piper Sandler Companies stock opened at $342.99 on Friday. The business’s 50 day simple moving average is $324.46 and its 200 day simple moving average is $295.64. Piper Sandler Companies has a 12 month low of $152.59 and a 12 month high of $351.80. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results 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 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%. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given 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 yield of 0.76%. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

PIPR has been the topic of several research analyst reports. StockNews.com cut 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 report on Tuesday, September 17th.

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.