State Street Corp Has $193.68 Million Holdings in Piper Sandler Companies (NYSE:PIPR)

State Street Corp increased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 682,430 shares of the financial services provider’s stock after buying an additional 2,137 shares during the period. State Street Corp’s holdings in Piper Sandler Companies were worth $193,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PIPR. Blue Trust Inc. boosted its holdings in shares of Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after buying an additional 74 shares in the last quarter. nVerses Capital LLC increased its stake in shares of Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Piper Sandler Companies during the 3rd quarter valued at $77,000. CWM LLC boosted its stake in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares in the last quarter. Finally, KBC Group NV raised its holdings 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 purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PIPR. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Down 1.2 %

Shares of Piper Sandler Companies stock opened at $320.61 on Friday. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80. The business has a 50 day moving average price of $335.81 and a 200-day moving average price of $302.82. The company has a market cap of $5.70 billion, a PE ratio of 34.25 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results 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 business 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%. As a group, research analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.81%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

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.