State Street Corp Boosts Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

State Street Corp boosted its stake in Piper Sandler Companies (NYSE:PIPR) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 682,430 shares of the financial services provider’s stock after purchasing an additional 2,137 shares during the quarter. State Street Corp’s holdings in Piper Sandler Companies were worth $193,680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC grew its holdings in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Piper Sandler Companies in the 3rd quarter worth $14,645,000. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Piper Sandler Companies in the 2nd quarter worth about $10,139,000. Millennium Management LLC raised its position in shares of Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after buying an additional 30,942 shares in the last quarter. Finally, Nicholas Investment Partners LP bought a new position in shares of Piper Sandler Companies in the 2nd quarter valued at about $5,950,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 1.2 %

Piper Sandler Companies stock opened at $320.61 on Friday. The firm has a market capitalization of $5.70 billion, a PE ratio of 34.25 and a beta of 1.43. Piper Sandler Companies has a 12-month low of $162.50 and a 12-month high of $351.80. The firm has a 50-day moving average price of $335.81 and a 200-day moving average price of $302.82.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data 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 business had revenue of $359.57 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed 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 0.81%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

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

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.