Kennedy Capital Management LLC Reduces Holdings in Piper Sandler Companies (NYSE:PIPR)

Kennedy Capital Management LLC decreased its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 28.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,566 shares of the financial services provider's stock after selling 17,642 shares during the period. Kennedy Capital Management LLC owned 0.25% of Piper Sandler Companies worth $13,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its position in shares of Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after acquiring an additional 131 shares during the last quarter. West Oak Capital LLC increased its stake 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 valued at $45,000 after purchasing an additional 1,300 shares during the period. Allworth Financial LP raised its holdings in shares of 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 buying an additional 160 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 worth $83,000 after buying an additional 60 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Piper Sandler Companies by 336.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock worth $94,000 after buying an additional 242 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PIPR. The Goldman Sachs Group decreased their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Stock Down 0.2 %

Shares of Piper Sandler Companies stock traded down $0.44 during trading on Tuesday, reaching $224.71. The company's stock had a trading volume of 45,200 shares, compared to its average volume of 116,613. The business has a 50 day moving average price of $242.93 and a 200-day moving average price of $276.81. Piper Sandler Companies has a 12-month low of $183.58 and a 12-month high of $351.80. The company has a market capitalization of $3.98 billion, a P/E ratio of 21.99 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 previous year, the firm posted $4.03 EPS. Research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend 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%.

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.