Stifel Financial Corp Sells 94 Shares of Piper Sandler Companies (NYSE:PIPR)

Stifel Financial Corp cut its position in shares of Piper Sandler Companies (NYSE:PIPR) by 10.5% during the 3rd quarter, Holdings Channel reports. The firm owned 801 shares of the financial services provider’s stock after selling 94 shares during the quarter. Stifel Financial Corp’s holdings in Piper Sandler Companies were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PIPR. Cerity Partners LLC raised its stake in Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after acquiring an additional 2,819 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $624,000. Citigroup Inc. grew its holdings in shares of Piper Sandler Companies by 63.4% during the 3rd 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 grew its stake 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 buying an additional 1,681 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $301.10 on Monday. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 32.17 and a beta of 1.43. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80. The company has a fifty day moving average price of $322.06.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. The firm had revenue of $359.57 million for 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, equities analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.86%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday.

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.