Victory Capital Management Inc. Cuts Holdings in Piper Sandler Companies (NYSE:PIPR)

Victory Capital Management Inc. decreased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,705 shares of the financial services provider’s stock after selling 1,025 shares during the period. Victory Capital Management Inc.’s holdings in Piper Sandler Companies were worth $996,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PIPR. Metropolitan Life Insurance Co NY increased its stake in Piper Sandler Companies by 8.2% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,093 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 83 shares during the last quarter. Captrust Financial Advisors raised its holdings in Piper Sandler Companies by 3.7% during the 4th quarter. Captrust Financial Advisors now owns 2,366 shares of the financial services provider’s stock valued at $308,000 after buying an additional 84 shares during the period. First Republic Investment Management Inc. lifted its position in Piper Sandler Companies by 2.3% in the first quarter. First Republic Investment Management Inc. now owns 5,214 shares of the financial services provider’s stock worth $723,000 after buying an additional 119 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in Piper Sandler Companies by 0.8% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 16,929 shares of the financial services provider’s stock worth $2,347,000 after buying an additional 129 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its position in Piper Sandler Companies by 67.0% in the first quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider’s stock worth $48,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 67.23% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $138.54 on Tuesday. The stock’s fifty day moving average is $142.71 and its two-hundred day moving average is $138.58. The company has a market capitalization of $2.46 billion, a PE ratio of 33.06 and a beta of 1.35. The company has a quick ratio of 0.50, a current ratio of 1.31 and a debt-to-equity ratio of 0.10. Piper Sandler Companies has a 52 week low of $120.97 and a 52 week high of $162.20.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 27th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.06. The company had revenue of $289.49 million during the quarter, compared to analysts’ expectations of $295.40 million. Piper Sandler Companies had a net margin of 5.64% and a return on equity of 12.30%. As a group, analysts expect that Piper Sandler Companies will post 7.82 earnings per share for the current year.

Analyst Ratings Changes

PIPR has been the subject of a number of analyst reports. StockNews.com initiated coverage on Piper Sandler Companies in a research report on Thursday, October 5th. They issued a “hold” rating for the company. JMP Securities reissued a “market outperform” rating and issued a $170.00 price objective on shares of Piper Sandler Companies in a research report on Monday.

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 and institutional sales, trading, and research services for various equity and fixed income products.