Invesco Ltd. boosted its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 17.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 697,824 shares of the financial services provider's stock after buying an additional 102,426 shares during the quarter. Invesco Ltd. owned approximately 3.92% of Piper Sandler Companies worth $209,312,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc increased its position in 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 buying an additional 131 shares during the period. Allworth Financial LP grew its position in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC increased its position in shares of Piper Sandler Companies by 27.6% during 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 in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 242 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in Piper Sandler Companies by 280.9% in the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock worth $102,000 after purchasing an additional 250 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.
Piper Sandler Companies Stock Performance
Piper Sandler Companies stock traded down $0.97 during midday trading on Tuesday, reaching $224.18. The stock had a trading volume of 157,353 shares, compared to its average volume of 117,049. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The firm's fifty day simple moving average is $241.82 and its 200-day simple moving average is $275.81. The stock has a market capitalization of $3.97 billion, a P/E ratio of 21.94 and a beta of 1.38.
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, 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 period in the prior year, the company earned $4.03 earnings per share. On average, sell-side analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.
Piper Sandler Companies Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.16%. Piper Sandler Companies's payout ratio is presently 25.44%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Finally, JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.
View Our Latest Research 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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