JPMorgan Chase & Co. Decreases Stake in Piper Sandler Companies (NYSE:PIPR)

JPMorgan Chase & Co. lessened its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 327,987 shares of the financial services provider’s stock after selling 2,190 shares during the period. JPMorgan Chase & Co.’s holdings in Piper Sandler Companies were worth $93,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC increased its holdings in shares of Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 54 shares during the period. nVerses Capital LLC raised its position in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares during the last quarter. Natixis Advisors LLC lifted its stake in Piper Sandler Companies by 18.6% during the 2nd quarter. Natixis Advisors LLC now owns 18,351 shares of the financial services provider’s stock valued at $4,224,000 after acquiring an additional 2,881 shares during the period. TD Asset Management Inc purchased a new stake in shares of Piper Sandler Companies in the 2nd quarter valued at $483,000. Finally, Victory Capital Management Inc. increased its stake in shares of Piper Sandler Companies by 74.7% in the second quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock worth $3,033,000 after acquiring an additional 5,636 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR opened at $299.31 on Friday. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 31.98 and a beta of 1.43. The firm’s 50 day simple moving average is $314.98 and its 200-day simple moving average is $309.79. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.87%. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Analysts Set New Price Targets

PIPR has been the subject of a number of research reports. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

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.