Stifel Financial Corp Sells 94 Shares of Piper Sandler Companies (NYSE:PIPR)

Stifel Financial Corp trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 801 shares of the financial services provider’s stock after selling 94 shares during the quarter. Stifel Financial Corp’s holdings in Piper Sandler Companies were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PIPR. Cerity Partners LLC lifted its holdings in Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after acquiring an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Piper Sandler Companies during the 3rd quarter worth approximately $624,000. Citigroup Inc. raised its holdings in Piper Sandler Companies by 63.4% during the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after buying an additional 8,337 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Piper Sandler Companies by 22.3% in the third quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider’s stock valued at $2,615,000 after buying an additional 1,681 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analysts Set New Price Targets

PIPR has been the topic of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday.

Piper Sandler Companies Stock Down 1.6 %

Shares of PIPR opened at $301.10 on Monday. Piper Sandler Companies has a twelve month low of $162.50 and a twelve month high of $351.80. The company has a market cap of $5.35 billion, a PE ratio of 32.17 and a beta of 1.43. The business’s 50 day simple moving average is $322.06.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Equities research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is 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.