Squarepoint Ops LLC lowered its stake in shares of Piper Sandler Companies (NYSE:PIPR – Free Report) by 22.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 186,993 shares of the company’s stock after selling 53,942 shares during the period. Squarepoint Ops LLC’s holdings in Piper Sandler Companies were worth $13,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System purchased a new position in shares of Piper Sandler Companies in the second quarter valued at $435,408,000. Invesco Ltd. lifted its holdings in Piper Sandler Companies by 0.3% during the 4th quarter. Invesco Ltd. now owns 716,829 shares of the company’s stock worth $243,514,000 after purchasing an additional 2,285 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Piper Sandler Companies by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock worth $41,466,000 after purchasing an additional 2,967 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Piper Sandler Companies by 6.4% in the 4th quarter. JPMorgan Chase & Co. now owns 294,624 shares of the company’s stock worth $100,087,000 after purchasing an additional 17,694 shares during the period. Finally, Norges Bank bought a new position in Piper Sandler Companies in the 4th quarter worth about $79,239,000. 72.79% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.06.
Piper Sandler Companies Stock Performance
Shares of PIPR stock opened at $77.06 on Thursday. Piper Sandler Companies has a 52-week low of $68.70 and a 52-week high of $95.07. The company has a market capitalization of $5.45 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.40. The business’s fifty day moving average is $75.26 and its 200 day moving average is $77.71.
Piper Sandler Companies (NYSE:PIPR – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.88 by $0.16. The business had revenue of $491.14 million during the quarter, compared to analysts’ expectations of $445.28 million. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%.The firm’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.92 earnings per share. On average, sell-side analysts forecast that Piper Sandler Companies will post 4.51 EPS for the current fiscal year.
Piper Sandler Companies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 28th. Piper Sandler Companies’s dividend payout ratio (DPR) is 18.52%.
Piper Sandler Companies Profile
Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.
In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.
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