King Luther Capital Management Corp Boosts Holdings in Piper Sandler Companies (NYSE:PIPR)

King Luther Capital Management Corp boosted its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 9.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 20,395 shares of the financial services provider's stock after purchasing an additional 1,717 shares during the quarter. King Luther Capital Management Corp owned about 0.11% of Piper Sandler Companies worth $6,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Piper Sandler Companies by 20.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,389 shares of the financial services provider's stock valued at $1,017,000 after buying an additional 577 shares during the last quarter. Amundi lifted its position in Piper Sandler Companies by 194.3% in the 4th quarter. Amundi now owns 8,202 shares of the financial services provider's stock valued at $2,440,000 after acquiring an additional 5,415 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Piper Sandler Companies by 76.6% during the 4th quarter. Edgestream Partners L.P. now owns 18,602 shares of the financial services provider's stock valued at $5,580,000 after purchasing an additional 8,068 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter worth $3,770,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Piper Sandler Companies in the fourth quarter worth $7,464,000. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Up 2.7 %

PIPR stock opened at $250.91 on Wednesday. The business's 50-day moving average price is $288.32 and its 200-day moving average price is $301.54. The stock has a market cap of $4.45 billion, a P/E ratio of 24.55 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80.

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

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.04%. Piper Sandler Companies's dividend payout ratio is presently 25.44%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target 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. Finally, JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Company 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.

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