Algert Global LLC Has $2.64 Million Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Algert Global LLC cut its stake in Piper Sandler Companies (NYSE:PIPR) by 48.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,310 shares of the financial services provider’s stock after selling 8,840 shares during the period. Algert Global LLC’s holdings in Piper Sandler Companies were worth $2,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mesirow Institutional Investment Management Inc. acquired a new stake in Piper Sandler Companies during the 2nd quarter worth about $10,139,000. Millennium Management LLC grew its stake in Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after purchasing an additional 30,942 shares during the period. Nicholas Investment Partners LP bought a new stake in Piper Sandler Companies in the second quarter worth approximately $5,950,000. Sei Investments Co. lifted its stake in Piper Sandler Companies by 101.2% in the second quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock valued at $10,282,000 after buying an additional 22,471 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Piper Sandler Companies by 1,576.2% during the 2nd quarter. SG Americas Securities LLC now owns 20,081 shares of the financial services provider’s stock worth $4,622,000 after buying an additional 18,883 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PIPR shares. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research 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 Down 1.7 %

NYSE PIPR opened at $343.04 on Wednesday. Piper Sandler Companies has a 52 week low of $151.03 and a 52 week high of $351.80. The business has a 50 day moving average price of $317.71 and a 200-day moving average price of $292.04. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 36.65 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data 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. The firm had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, equities research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

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.