Geode Capital Management LLC Acquires 7,344 Shares of Piper Sandler Companies (NYSE:PIPR)

Geode Capital Management LLC lifted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 377,586 shares of the financial services provider’s stock after purchasing an additional 7,344 shares during the period. Geode Capital Management LLC’s holdings in Piper Sandler Companies were worth $107,184,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after buying an additional 74 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Piper Sandler Companies by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the financial services provider’s stock valued at $1,795,000 after acquiring an additional 300 shares during the period. New York State Teachers Retirement System grew its position in Piper Sandler Companies by 1.9% during the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after acquiring an additional 610 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Piper Sandler Companies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider’s stock worth $39,162,000 after purchasing an additional 9,380 shares during the period. Finally, Legato Capital Management LLC bought a new stake in Piper Sandler Companies in the second quarter valued at approximately $757,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $296.13 on Thursday. Piper Sandler Companies has a fifty-two week low of $162.50 and a fifty-two week high of $351.80. The firm has a market cap of $5.27 billion, a P/E ratio of 31.64 and a beta of 1.43. The business’s 50 day moving average price is $332.07 and its 200-day moving average price is $305.73.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to analyst estimates 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 year.

Piper Sandler Companies Announces Dividend

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 dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

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

Piper Sandler Companies 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.