Envestnet Asset Management Inc. Increases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Envestnet Asset Management Inc. lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,341 shares of the financial services provider's stock after purchasing an additional 1,566 shares during the quarter. Envestnet Asset Management Inc. owned about 0.33% of Piper Sandler Companies worth $17,799,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Arizona State Retirement System grew its stake in Piper Sandler Companies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock worth $1,541,000 after purchasing an additional 40 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after purchasing an additional 60 shares during the last quarter. MML Investors Services LLC grew its position in Piper Sandler Companies by 4.3% during the third quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider's stock worth $508,000 after buying an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Piper Sandler Companies by 30.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 87 shares during the period. Finally, Xponance Inc. raised its position in Piper Sandler Companies by 9.3% in the 4th quarter. Xponance Inc. now owns 1,241 shares of the financial services provider's stock valued at $372,000 after purchasing an additional 106 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Performance

PIPR traded up $1.41 on Friday, hitting $224.81. 109,100 shares of the company were exchanged, compared to its average volume of 117,920. Piper Sandler Companies has a 12 month low of $184.91 and a 12 month high of $351.80. The stock has a market capitalization of $3.99 billion, a PE ratio of 22.00 and a beta of 1.38. The firm has a fifty day simple moving average of $238.24 and a two-hundred day simple moving average of $272.60.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating 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 quarter in the prior year, the business earned $4.03 earnings per share. On average, equities analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 1.16%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio (DPR) is 25.44%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PIPR. StockNews.com cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

Piper Sandler Companies 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.