Norges Bank Takes Position in Piper Sandler Companies (NYSE:PIPR)

Norges Bank purchased a new stake in Piper Sandler Companies (NYSE:PIPR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 229,024 shares of the financial services provider's stock, valued at approximately $68,696,000. Norges Bank owned about 1.29% of Piper Sandler Companies at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock valued at $9,174,000 after purchasing an additional 24,388 shares during the period. Smartleaf Asset Management LLC increased its stake in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after buying an additional 242 shares during the period. Tidal Investments LLC raised its position in Piper Sandler Companies by 75.7% during the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider's stock worth $1,732,000 after buying an additional 2,629 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Piper Sandler Companies by 22.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider's stock worth $2,615,000 after acquiring an additional 1,681 shares during the period. Finally, IFP Advisors Inc lifted its stake 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 acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 72.79% of the company's stock.

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Piper Sandler Companies Trading Down 1.5 %

Shares of PIPR traded down $3.25 during trading hours on Tuesday, reaching $210.11. The company had a trading volume of 236,900 shares, compared to its average volume of 114,297. Piper Sandler Companies has a 12-month low of $183.58 and a 12-month high of $351.80. The firm has a 50 day simple moving average of $247.44 and a 200-day simple moving average of $281.38. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 20.56 and a beta of 1.38.

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, topping 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 quarter in the previous year, the firm earned $4.03 earnings per share. Sell-side analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.24%. Piper Sandler Companies's dividend payout ratio is presently 25.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group decreased their price target on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th.

Piper Sandler Companies 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.