North Reef Capital Management LP Sells 36,562 Shares of Piper Sandler Companies (NYSE:PIPR)

North Reef Capital Management LP reduced its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,348 shares of the financial services provider's stock after selling 36,562 shares during the period. Piper Sandler Companies comprises about 1.1% of North Reef Capital Management LP's holdings, making the stock its 21st largest holding. North Reef Capital Management LP owned approximately 0.48% of Piper Sandler Companies worth $25,600,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its position in shares of Piper Sandler Companies by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock worth $226,000 after purchasing an additional 37 shares in the last quarter. Arizona State Retirement System grew its holdings in Piper Sandler Companies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock worth $1,541,000 after acquiring an additional 40 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 60 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Piper Sandler Companies by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider's stock worth $545,000 after acquiring an additional 85 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Piper Sandler Companies by 30.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider's stock worth $112,000 after acquiring an additional 87 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock traded up $1.11 on Monday, hitting $239.15. 109,718 shares of the company's stock traded hands, compared to its average volume of 118,488. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 23.40 and a beta of 1.38. Piper Sandler Companies has a one year low of $195.29 and a one year high of $351.80.

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

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies's payout ratio is 25.44%.

Analyst Ratings Changes

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

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.