GW&K Investment Management LLC cut its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 320,863 shares of the financial services provider's stock after selling 63,148 shares during the quarter. Piper Sandler Companies makes up approximately 0.8% of GW&K Investment Management LLC's investment portfolio, making the stock its 16th largest holding. GW&K Investment Management LLC owned about 1.80% of Piper Sandler Companies worth $96,243,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after purchasing an additional 131 shares in the last quarter. West Oak Capital LLC boosted its holdings in Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock worth $45,000 after acquiring an additional 1,300 shares in the last quarter. Allworth Financial LP grew its stake in shares of Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock worth $70,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Piper Sandler Companies by 280.9% in the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock valued at $102,000 after purchasing an additional 250 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.
Piper Sandler Companies Stock Performance
NYSE PIPR traded down $18.15 on Tuesday, reaching $261.30. 193,247 shares of the company's stock traded hands, compared to its average volume of 103,458. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 25.57 and a beta of 1.46. The stock has a 50 day moving average price of $302.42 and a 200-day moving average price of $308.43.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $4.03 earnings per share. As a group, equities research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.
Piper Sandler Companies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.00%. Piper Sandler Companies's dividend payout ratio is presently 25.44%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on PIPR shares. The Goldman Sachs Group lifted their price objective on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.
Get Our Latest Report on Piper Sandler Companies
About Piper Sandler Companies
(
Free Report)
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.
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