Legal & General Group Plc Lowers Position in Piper Sandler Companies (NYSE:PIPR)

Legal & General Group Plc decreased its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,244 shares of the financial services provider's stock after selling 1,122 shares during the period. Legal & General Group Plc owned about 0.26% of Piper Sandler Companies worth $13,871,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after buying an additional 131 shares during the last quarter. West Oak Capital LLC grew its position in shares of Piper Sandler Companies by 650.0% during the fourth 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 increased its holdings in shares of 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 raised its position in Piper Sandler Companies by 27.6% in the 4th 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 stake in Piper Sandler Companies by 336.1% during the 4th 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 and hedge funds.

Piper Sandler Companies Stock Down 4.3 %

Shares of PIPR traded down $9.72 during mid-day trading on Monday, reaching $215.36. 24,661 shares of the company's stock were exchanged, compared to its average volume of 117,560. Piper Sandler Companies has a 52-week low of $184.91 and a 52-week high of $351.80. The company has a 50-day simple moving average of $238.24 and a two-hundred day simple moving average of $272.60. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 21.07 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted 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 return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the company earned $4.03 EPS. As a group, equities research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on PIPR. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. The Goldman Sachs Group cut their price target on 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. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th.

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.