Tidal Investments LLC Acquires 2,629 Shares of Piper Sandler Companies (NYSE:PIPR)

Tidal Investments LLC boosted its holdings in Piper Sandler Companies (NYSE:PIPR) by 75.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,104 shares of the financial services provider’s stock after purchasing an additional 2,629 shares during the quarter. Tidal Investments LLC’s holdings in Piper Sandler Companies were worth $1,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arete Wealth Advisors LLC bought a new position in Piper Sandler Companies in the 3rd quarter worth approximately $310,000. Coldstream Capital Management Inc. boosted its stake in Piper Sandler Companies by 2.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 41 shares during the period. Geode Capital Management LLC boosted its stake in Piper Sandler Companies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after purchasing an additional 7,344 shares during the period. Vestcor Inc boosted its stake in Piper Sandler Companies by 23.5% in the 3rd quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 863 shares during the period. Finally, Barclays PLC boosted its stake in Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after purchasing an additional 24,388 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com downgraded 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 research report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $312.19 on Wednesday. The company has a market capitalization of $5.55 billion, a P/E ratio of 33.35 and a beta of 1.43. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80. The stock has a 50 day moving average price of $333.27 and a 200-day moving average price of $305.14.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The firm had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, equities analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.83%. Piper Sandler Companies’s dividend payout ratio is presently 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.