King Luther Capital Management Corp Has $5.30 Million Stake in Piper Sandler Companies (NYSE:PIPR)

King Luther Capital Management Corp grew its holdings in Piper Sandler Companies (NYSE:PIPR) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,678 shares of the financial services provider’s stock after acquiring an additional 268 shares during the quarter. King Luther Capital Management Corp owned 0.11% of Piper Sandler Companies worth $5,301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of PIPR. Blue Trust Inc. lifted its position in Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares during the period. nVerses Capital LLC increased its holdings in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas acquired a new position in Piper Sandler Companies in the third quarter worth $77,000. FSC Wealth Advisors LLC lifted its position in Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after buying an additional 97 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Up 1.9 %

NYSE:PIPR opened at $340.34 on Friday. The stock’s 50 day moving average price is $312.34 and its two-hundred day moving average price is $288.77. Piper Sandler Companies has a 12-month low of $151.03 and a 12-month high of $347.15. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 36.36 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 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 the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Equities research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given 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 0.76%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

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

About Piper Sandler Companies

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.