Principal Financial Group Inc. reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 3.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 75,307 shares of the financial services provider's stock after selling 2,403 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of Piper Sandler Companies worth $21,373,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised its position in Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Piper Sandler Companies during the 3rd quarter valued at about $14,645,000. Mesirow Institutional Investment Management Inc. bought a new stake in Piper Sandler Companies in the 2nd quarter worth approximately $10,139,000. Millennium Management LLC lifted its position in Piper Sandler Companies by 66.0% in the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock worth $17,908,000 after buying an additional 30,942 shares during the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in Piper Sandler Companies in the second quarter worth approximately $5,950,000. 72.79% of the stock is owned by institutional investors.
Several research analysts have commented on PIPR shares. StockNews.com raised shares of Piper Sandler Companies from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.
Get Our Latest Analysis on PIPR
PIPR opened at $303.53 on Thursday. The company has a market cap of $5.40 billion, a P/E ratio of 32.43 and a beta of 1.43. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80. The business's 50-day moving average price is $324.97 and its 200-day moving average price is $308.24.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Equities research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies's dividend payout ratio (DPR) is presently 27.78%.
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.
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