Orion Portfolio Solutions LLC Sells 2,588 Shares of Piper Sandler Companies (NYSE:PIPR)

Orion Portfolio Solutions LLC lowered its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,873 shares of the financial services provider's stock after selling 2,588 shares during the quarter. Orion Portfolio Solutions LLC owned approximately 0.08% of Piper Sandler Companies worth $4,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Citigroup Inc. boosted its position in Piper Sandler Companies by 63.4% during the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider's stock valued at $6,101,000 after purchasing an additional 8,337 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Piper Sandler Companies by 3.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,032 shares of the financial services provider's stock worth $2,847,000 after purchasing an additional 348 shares in the last quarter. FMR LLC lifted its holdings in shares of Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock valued at $177,395,000 after buying an additional 205,584 shares during the last quarter. BNP Paribas Financial Markets grew 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 valued at $2,615,000 after buying an additional 1,681 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in Piper Sandler Companies in the third quarter worth approximately $1,429,000. Institutional investors and hedge funds own 72.79% of the company's stock.

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Piper Sandler Companies Price Performance

PIPR stock traded down $14.40 on Friday, reaching $215.64. 320,000 shares of the company were exchanged, compared to its average volume of 121,086. The firm has a market capitalization of $3.82 billion, a PE ratio of 21.10 and a beta of 1.38. Piper Sandler Companies has a 12 month low of $183.57 and a 12 month high of $351.80. The stock's fifty day moving average price is $254.46 and its 200 day moving average price is $285.19.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS 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 quarter last year, the company earned $4.03 earnings per share. As a group, research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies's payout ratio is presently 25.44%.

Analyst Ratings Changes

PIPR has been the subject of several analyst reports. The Goldman Sachs Group reduced their price objective 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. 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.

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.