Piper Sandler Companies (NYSE:PIPR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,450 shares of the financial services provider’s stock after selling 51 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Piper Sandler Companies were worth $979,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after buying an additional 74 shares in the last quarter. nVerses Capital LLC lifted its holdings in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares during the last quarter. USA Financial Formulas acquired a new stake in Piper Sandler Companies in the 3rd quarter valued at about $77,000. FSC Wealth Advisors LLC boosted its position in shares of Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 97 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Piper Sandler Companies by 22.5% in 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. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Trading Down 0.4 %

Shares of PIPR opened at $341.71 on Thursday. Piper Sandler Companies has a 1-year low of $151.96 and a 1-year high of $351.80. The stock has a market capitalization of $6.08 billion, a P/E ratio of 36.51 and a beta of 1.39. The business’s 50-day moving average price is $319.85 and its 200 day moving average price is $293.04.

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

Piper Sandler Companies Announces Dividend

The company also recently announced 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. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 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.