Fisher Asset Management LLC Increases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Fisher Asset Management LLC raised its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,909 shares of the financial services provider's stock after acquiring an additional 10,588 shares during the quarter. Fisher Asset Management LLC owned approximately 0.88% of Piper Sandler Companies worth $46,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE lifted its stake in shares of Piper Sandler Companies by 6.7% during the third quarter. US Bancorp DE now owns 7,503 shares of the financial services provider's stock valued at $2,130,000 after buying an additional 471 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock valued at $1,422,000 after acquiring an additional 56 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Piper Sandler Companies during the 3rd quarter worth $201,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Piper Sandler Companies by 42.0% during the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the financial services provider's stock worth $439,000 after purchasing an additional 458 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Piper Sandler Companies in the third quarter valued at $880,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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Piper Sandler Companies Trading Down 3.1 %

NYSE:PIPR traded down $8.26 on Thursday, hitting $255.51. 41,283 shares of the stock were exchanged, compared to its average volume of 106,104. The stock has a fifty day moving average of $298.65 and a 200-day moving average of $306.60. The stock has a market cap of $4.53 billion, a PE ratio of 25.00 and a beta of 1.46. Piper Sandler Companies has a fifty-two week low of $183.57 and a fifty-two week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) 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 quarter in the prior year, the firm posted $4.03 earnings per share. As a group, 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 will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio is presently 25.44%.

Wall Street Analyst Weigh In

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

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.