Vanguard Group Inc. Increases Stock Position in Piper Sandler Companies (NYSE:PIPR)

Vanguard Group Inc. boosted its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,063,590 shares of the financial services provider's stock after purchasing an additional 31,400 shares during the period. Vanguard Group Inc. owned about 11.61% of Piper Sandler Companies worth $618,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after buying an additional 131 shares during the period. West Oak Capital LLC increased its holdings in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock worth $45,000 after acquiring an additional 1,300 shares during the last quarter. Allworth Financial LP raised its stake in Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC lifted its holdings in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 242 shares during the period. 72.79% of the stock is owned by institutional investors.

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Analyst Ratings Changes

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

Piper Sandler Companies Price Performance

Shares of PIPR traded down $14.40 during midday trading on Friday, hitting $215.64. 320,000 shares of the company traded hands, compared to its average volume of 112,870. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The firm has a market cap of $3.82 billion, a P/E ratio of 21.10 and a beta of 1.38. The stock has a 50-day moving average of $254.46 and a 200-day moving average of $285.19.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its 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 last year, the firm posted $4.03 EPS. Sell-side analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

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.