Piper Sandler Companies (NYSE:PIPR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,708 shares of the financial services provider’s stock after selling 480 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Piper Sandler Companies were worth $3,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Versor Investments LP purchased a new position in shares of Piper Sandler Companies during the third quarter worth $880,000. Victory Capital Management Inc. boosted its holdings in Piper Sandler Companies by 20.6% in the third quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock valued at $4,509,000 after purchasing an additional 2,713 shares during the last quarter. Creative Planning grew its position in Piper Sandler Companies by 34.8% during the 3rd quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock worth $2,636,000 after purchasing an additional 2,399 shares during the period. Moody Aldrich Partners LLC raised its stake in shares of Piper Sandler Companies by 14.8% during the 3rd quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock valued at $6,869,000 after buying an additional 3,124 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Piper Sandler Companies by 1.9% in the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after buying an additional 610 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $348.81 on Tuesday. Piper Sandler Companies has a fifty-two week low of $151.03 and a fifty-two week high of $351.80. The company has a market cap of $6.20 billion, a P/E ratio of 37.27 and a beta of 1.39. The firm has a 50-day simple moving average of $315.85 and a two-hundred day simple moving average of $291.32.

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 for the quarter, topping 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 company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Equities research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.65 per share. 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 0.75%. Piper Sandler Companies’s dividend payout ratio (DPR) 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.