Glenmede Trust Co. NA Increases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Glenmede Trust Co. NA boosted its position in shares of Piper Sandler Companies (NYSE:PIPR) by 16.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,933 shares of the financial services provider’s stock after acquiring an additional 545 shares during the period. Glenmede Trust Co. NA’s holdings in Piper Sandler Companies were worth $1,116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares during the period. Mesirow Institutional Investment Management Inc. bought a new position in shares of Piper Sandler Companies in the second quarter worth approximately $10,139,000. Millennium Management LLC raised its stake in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after purchasing an additional 30,942 shares in the last quarter. Nicholas Investment Partners LP bought a new stake in Piper Sandler Companies during the second quarter valued at approximately $5,950,000. Finally, Sei Investments Co. grew its stake in Piper Sandler Companies by 101.2% in the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock worth $10,282,000 after buying an additional 22,471 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $342.96 on Tuesday. The firm has a 50 day moving average price of $326.59 and a 200-day moving average price of $296.62. Piper Sandler Companies has a fifty-two week low of $155.75 and a fifty-two week high of $351.80. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating 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 company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, equities research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

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 paid 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%.

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.