Tidal Investments LLC Boosts Stake in Piper Sandler Companies (NYSE:PIPR)

Tidal Investments LLC lifted its holdings in Piper Sandler Companies (NYSE:PIPR) by 75.7% during the third quarter, Holdings Channel reports. The institutional investor owned 6,104 shares of the financial services provider’s stock after purchasing an additional 2,629 shares during the quarter. Tidal Investments LLC’s holdings in Piper Sandler Companies were worth $1,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Cerity Partners LLC boosted its position in 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 worth $4,558,000 after purchasing an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Piper Sandler Companies during the third quarter worth $624,000. Citigroup Inc. boosted its position in Piper Sandler Companies by 63.4% during the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after purchasing an additional 8,337 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Piper Sandler Companies by 22.3% during the third quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider’s stock worth $2,615,000 after purchasing an additional 1,681 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of research analyst reports. 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 Down 2.8 %

NYSE PIPR opened at $312.19 on Wednesday. Piper Sandler Companies has a fifty-two week low of $162.50 and a fifty-two week high of $351.80. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 33.35 and a beta of 1.43. The business has a fifty day moving average of $333.27 and a 200-day moving average of $305.14.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.53 by $0.04. The firm 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%. As a group, analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.83%. Piper Sandler Companies’s payout ratio is currently 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.