Cibc World Markets Corp Invests $487,000 in Piper Sandler Companies (NYSE:PIPR)

Cibc World Markets Corp purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,624 shares of the financial services provider's stock, valued at approximately $487,000.

A number of other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Piper Sandler Companies by 10.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,805 shares of the financial services provider's stock worth $541,000 after purchasing an additional 176 shares during the period. Vestcor Inc lifted its holdings in Piper Sandler Companies by 25.9% in the 4th quarter. Vestcor Inc now owns 5,713 shares of the financial services provider's stock worth $1,714,000 after buying an additional 1,176 shares during the period. Swiss National Bank lifted its holdings in Piper Sandler Companies by 0.6% in the 4th quarter. Swiss National Bank now owns 34,800 shares of the financial services provider's stock worth $10,438,000 after buying an additional 200 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Piper Sandler Companies by 30.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider's stock valued at $112,000 after buying an additional 87 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Piper Sandler Companies by 9.2% during the fourth quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider's stock valued at $749,000 after acquiring an additional 211 shares in the last quarter. Institutional investors own 72.79% of the company's stock.

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Piper Sandler Companies Price Performance

PIPR stock traded down $5.10 during midday trading on Wednesday, hitting $263.79. The stock had a trading volume of 51,967 shares, compared to its average volume of 105,524. The business has a 50-day moving average of $267.95 and a two-hundred day moving average of $291.67. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 25.81 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts' consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period in the prior year, the firm posted $4.03 EPS. Research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio is 25.44%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. StockNews.com lowered shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

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.