Cerity Partners LLC Grows Holdings in Piper Sandler Companies (NYSE:PIPR)

Cerity Partners LLC grew its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 21.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,060 shares of the financial services provider’s stock after purchasing an additional 2,819 shares during the quarter. Cerity Partners LLC owned approximately 0.09% of Piper Sandler Companies worth $4,558,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Piper Sandler Companies by 194.7% during the second 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 period. nVerses Capital LLC raised its position 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 acquiring an additional 100 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter worth $77,000. CWM LLC boosted its position in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. Finally, FSC Wealth Advisors LLC grew its stake in Piper Sandler Companies by 39.0% in the second 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. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $341.71 on Friday. Piper Sandler Companies has a fifty-two week low of $151.96 and a fifty-two week high of $351.80. The company has a market cap of $6.08 billion, a PE ratio of 36.51 and a beta of 1.39. The business has a 50-day simple moving average of $321.94 and a two-hundred day simple moving average of $294.13.

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, 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 company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. On average, sell-side analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

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

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.