Philadelphia Financial Management of San Francisco LLC Invests $6.11 Million in Piper Sandler Companies (NYSE:PIPR)

Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,514 shares of the financial services provider’s stock, valued at approximately $6,106,000. Piper Sandler Companies comprises 1.0% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 29th biggest position. Philadelphia Financial Management of San Francisco LLC owned about 0.12% of Piper Sandler Companies at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PIPR. Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 74 shares in the last quarter. nVerses Capital LLC grew 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 worth $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Piper Sandler Companies in the 3rd quarter worth $77,000. FSC Wealth Advisors LLC increased its holdings in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after buying an additional 97 shares during the last quarter. Finally, CWM LLC raised its position in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on PIPR shares. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Stock Performance

PIPR opened at $334.71 on Wednesday. The stock’s 50 day moving average price is $328.42 and its 200-day moving average price is $297.14. Piper Sandler Companies has a one year low of $155.75 and a one year high of $351.80. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 35.76 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping 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 business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. As a group, analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business 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 is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.78%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

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.