Fisher Asset Management LLC Acquires 11,964 Shares of Piper Sandler Companies (NYSE:PIPR)

Fisher Asset Management LLC increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,321 shares of the financial services provider’s stock after purchasing an additional 11,964 shares during the period. Fisher Asset Management LLC owned approximately 0.82% of Piper Sandler Companies worth $41,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mesirow Institutional Investment Management Inc. bought a new position in Piper Sandler Companies during the 2nd quarter worth about $10,139,000. Millennium Management LLC boosted its position in shares of Piper Sandler Companies by 66.0% during the second 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 period. Nicholas Investment Partners LP bought a new position in shares of Piper Sandler Companies during the second quarter worth about $5,950,000. Sei Investments Co. raised its position in Piper Sandler Companies by 101.2% in the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock valued at $10,282,000 after buying an additional 22,471 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Piper Sandler Companies by 1,576.2% in the 2nd quarter. SG Americas Securities LLC now owns 20,081 shares of the financial services provider’s stock valued at $4,622,000 after acquiring an additional 18,883 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PIPR. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Down 1.7 %

NYSE:PIPR opened at $343.04 on Wednesday. Piper Sandler Companies has a twelve month low of $151.03 and a twelve month high of $351.80. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 36.65 and a beta of 1.39. The stock’s 50 day moving average price is $317.71 and its two-hundred day moving average price is $292.04.

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

Piper Sandler Companies Announces Dividend

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

About Piper Sandler Companies

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.