Piper Sandler Companies (NYSE:PIPR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Piper Sandler Companies (NYSE:PIPR) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,382 shares of the financial services provider’s stock after selling 175 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Piper Sandler Companies were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PIPR. Blue Trust Inc. lifted its position in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. nVerses Capital LLC boosted its position in Piper Sandler Companies by 100.0% during 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 purchased a new position in Piper Sandler Companies in the third quarter valued at about $77,000. FSC Wealth Advisors LLC increased its position in Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 97 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Stock Down 1.7 %

Shares of PIPR opened at $343.04 on Wednesday. The company has a 50-day moving average price of $317.71 and a two-hundred day moving average price of $292.04. Piper Sandler Companies has a 12 month low of $151.03 and a 12 month high of $351.80. The stock 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 results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Equities research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. Piper Sandler Companies’s dividend payout ratio is 27.78%.

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.