King Luther Capital Management Corp Boosts Stake in Piper Sandler Companies (NYSE:PIPR)

King Luther Capital Management Corp boosted its position in Piper Sandler Companies (NYSE:PIPR) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,678 shares of the financial services provider’s stock after buying an additional 268 shares during the quarter. King Luther Capital Management Corp’s holdings in Piper Sandler Companies were worth $5,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Versor Investments LP bought a new position in Piper Sandler Companies during the 3rd quarter valued at approximately $880,000. Creative Planning grew its position in Piper Sandler Companies by 34.8% during the 3rd quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock valued at $2,636,000 after purchasing an additional 2,399 shares during the last quarter. Moody Aldrich Partners LLC increased its position in shares of Piper Sandler Companies by 14.8% during the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock valued at $6,869,000 after acquiring an additional 3,124 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Piper Sandler Companies by 1.9% in 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 purchasing an additional 610 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Piper Sandler Companies by 66.0% in the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after buying an additional 30,942 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

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

Piper Sandler Companies Stock Up 1.9 %

PIPR stock opened at $340.34 on Friday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 36.36 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $151.03 and a twelve month high of $347.15. The business’s fifty day simple moving average is $312.34 and its two-hundred day simple moving average is $288.77.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced 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 is Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.76%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

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.