Cynosure Group LLC Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Cynosure Group LLC bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,296 shares of the financial services provider’s stock, valued at approximately $368,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in shares of Piper Sandler Companies by 1,473.3% during the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock valued at $281,000 after buying an additional 1,326 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Piper Sandler Companies by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,751 shares of the financial services provider’s stock worth $2,135,000 after purchasing an additional 638 shares during the last quarter. Comerica Bank raised its stake in shares of Piper Sandler Companies by 7.0% in the first quarter. Comerica Bank now owns 8,819 shares of the financial services provider’s stock worth $1,751,000 after purchasing an additional 575 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Piper Sandler Companies by 11.1% during the second quarter. Harbor Capital Advisors Inc. now owns 4,954 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 494 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Piper Sandler Companies by 6.3% during the second quarter. Park Avenue Securities LLC now owns 2,735 shares of the financial services provider’s stock valued at $629,000 after buying an additional 161 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Performance

PIPR stock opened at $341.71 on Friday. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 36.51 and a beta of 1.39. The business’s 50-day moving average is $321.94 and its two-hundred day moving average is $294.13. Piper Sandler Companies has a fifty-two week low of $151.96 and a fifty-two 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 for the quarter, topping the consensus estimate of $2.53 by $0.04. The firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Equities analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PIPR. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

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.