Loomis Sayles & Co. L P Acquires 11,607 Shares of Piper Sandler Companies (NYSE:PIPR)

Loomis Sayles & Co. L P increased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 6.4% during the third quarter, HoldingsChannel reports. The fund owned 193,983 shares of the financial services provider’s stock after acquiring an additional 11,607 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Piper Sandler Companies were worth $55,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares during the last quarter. nVerses Capital LLC raised its stake in shares of Piper Sandler Companies by 100.0% in the second 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 during the last quarter. USA Financial Formulas acquired a new position in shares of Piper Sandler Companies in the 3rd quarter worth approximately $77,000. FSC Wealth Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares in the last quarter. Finally, CWM LLC increased its holdings in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $348.81 on Tuesday. The stock’s fifty day moving average price is $315.85 and its two-hundred day moving average price is $291.32. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 37.27 and a beta of 1.39. Piper Sandler Companies has a 52-week low of $151.03 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating 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 return on equity of 16.06% and a net margin of 10.84%. On average, equities analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a $0.65 dividend. 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 0.75%. Piper Sandler Companies’s payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

A number of research firms have commented on PIPR. StockNews.com lowered 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 research report on Tuesday, September 17th.

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.