Tidal Investments LLC Purchases 2,629 Shares of Piper Sandler Companies (NYSE:PIPR)

Tidal Investments LLC increased its position in Piper Sandler Companies (NYSE:PIPR) by 75.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,104 shares of the financial services provider’s stock after purchasing an additional 2,629 shares during the period. Tidal Investments LLC’s holdings in Piper Sandler Companies were worth $1,732,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake 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 acquiring an additional 74 shares during the period. nVerses Capital LLC lifted its stake in Piper Sandler Companies by 100.0% during 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 during the period. USA Financial Formulas bought a new position in Piper Sandler Companies during the 3rd quarter valued at about $77,000. CWM LLC increased its position in shares of 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 during the last quarter. Finally, KBC Group NV increased its position in shares of Piper Sandler Companies by 20.9% during the 3rd 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 last quarter. Institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Stock Down 2.8 %

NYSE PIPR opened at $312.19 on Wednesday. The company has a 50-day moving average price of $333.27 and a 200-day moving average price of $305.14. The firm has a market capitalization of $5.55 billion, a P/E ratio of 33.35 and a beta of 1.43. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is 27.78%.

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.