Bridgewater Associates LP Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Bridgewater Associates LP bought a new stake in Piper Sandler Companies (NYSE:PIPR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,036 shares of the financial services provider’s stock, valued at approximately $1,429,000.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in 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 during the last quarter. nVerses Capital LLC grew its holdings 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 valued at $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas acquired a new stake in Piper Sandler Companies in the third quarter valued at $77,000. FSC Wealth Advisors LLC grew its holdings 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. Finally, CWM LLC grew its holdings in Piper Sandler Companies by 22.5% in 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 during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

Piper Sandler Companies Price Performance

NYSE PIPR opened at $342.99 on Monday. The stock’s 50-day simple moving average is $324.46. Piper Sandler Companies has a twelve month low of $152.59 and a twelve month high of $351.80. The stock has a market capitalization of $6.10 billion, a P/E ratio of 36.64 and a beta of 1.39.

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 firm had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Sell-side analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm 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 dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.76%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 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.