Edgestream Partners L.P. Buys 8,068 Shares of Piper Sandler Companies (NYSE:PIPR)

Edgestream Partners L.P. boosted its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 76.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,602 shares of the financial services provider's stock after buying an additional 8,068 shares during the quarter. Edgestream Partners L.P. owned approximately 0.10% of Piper Sandler Companies worth $5,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Lisanti Capital Growth LLC purchased a new stake in Piper Sandler Companies in the fourth quarter worth approximately $3,770,000. Raymond James Financial Inc. purchased a new stake in shares of Piper Sandler Companies during the fourth quarter valued at approximately $7,464,000. Arizona State Retirement System boosted its stake in shares of Piper Sandler Companies by 0.8% during the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock valued at $1,541,000 after purchasing an additional 40 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Piper Sandler Companies during the fourth quarter valued at approximately $8,097,000. Finally, Sage Rhino Capital LLC purchased a new stake in shares of Piper Sandler Companies during the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock traded down $2.44 during midday trading on Friday, reaching $253.70. 168,700 shares of the company's stock traded hands, compared to its average volume of 103,854. The company has a market cap of $4.50 billion, a PE ratio of 24.82 and a beta of 1.46. The stock has a 50 day moving average of $293.96 and a 200-day moving average of $303.65. Piper Sandler Companies has a 12 month low of $183.58 and a 12 month high of $351.80.

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

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. Piper Sandler Companies's dividend payout ratio (DPR) is 25.44%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PIPR. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. The Goldman Sachs Group increased their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

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.