Lord Abbett & CO. LLC Sells 11,772 Shares of Piper Sandler Companies (NYSE:PIPR)

Lord Abbett & CO. LLC reduced its holdings in Piper Sandler Companies (NYSE:PIPR) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 299,593 shares of the financial services provider’s stock after selling 11,772 shares during the period. Lord Abbett & CO. LLC’s holdings in Piper Sandler Companies were worth $85,027,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the last quarter. nVerses Capital LLC grew its position in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas bought a new position in shares of Piper Sandler Companies during the 3rd quarter worth about $77,000. CWM LLC raised its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after buying an additional 95 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent research reports. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $318.96 on Friday. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 34.08 and a beta of 1.43. The company has a 50-day moving average of $335.19 and a 200-day moving average of $303.62. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data 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. The company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Sell-side analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s payout ratio is 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.