Victory Capital Management Inc. Buys 2,713 Shares of Piper Sandler Companies (NYSE:PIPR)

Victory Capital Management Inc. lifted its stake in Piper Sandler Companies (NYSE:PIPR) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,889 shares of the financial services provider’s stock after acquiring an additional 2,713 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Piper Sandler Companies worth $4,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares during the last quarter. nVerses Capital LLC boosted its position in Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at about $77,000. FSC Wealth Advisors LLC increased its position in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PIPR shares. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Piper Sandler Companies Stock Up 0.1 %

PIPR stock opened at $340.71 on Friday. The firm’s fifty day simple moving average is $313.83 and its two-hundred day simple moving average is $289.87. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 36.40 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $151.03 and a twelve month high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. As a group, equities research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 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.