Cynosure Group LLC Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Cynosure Group LLC purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the third quarter, HoldingsChannel reports. The fund purchased 1,296 shares of the financial services provider’s stock, valued at approximately $368,000.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Piper Sandler Companies by 1,473.3% in the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock worth $281,000 after buying an additional 1,326 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Piper Sandler Companies by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,751 shares of the financial services provider’s stock valued at $2,135,000 after acquiring an additional 638 shares during the last quarter. Comerica Bank lifted its stake in Piper Sandler Companies by 7.0% in the 1st quarter. Comerica Bank now owns 8,819 shares of the financial services provider’s stock worth $1,751,000 after purchasing an additional 575 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Piper Sandler Companies by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,954 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 494 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in shares of Piper Sandler Companies by 6.3% during the second quarter. Park Avenue Securities LLC now owns 2,735 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 161 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com downgraded 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 report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $341.71 on Friday. The firm has a market capitalization of $6.08 billion, a PE ratio of 36.51 and a beta of 1.39. The stock’s fifty day moving average is $321.94 and its 200 day moving average is $294.13. Piper Sandler Companies has a fifty-two week low of $151.96 and a fifty-two week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Equities analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

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