Lord Abbett & CO. LLC Sells 37,615 Shares of Piper Sandler Companies (NYSE:PIPR)

Lord Abbett & CO. LLC lessened its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 261,978 shares of the financial services provider's stock after selling 37,615 shares during the period. Lord Abbett & CO. LLC owned approximately 1.47% of Piper Sandler Companies worth $78,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its position 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 worth $9,174,000 after purchasing an additional 24,388 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Piper Sandler Companies by 75.7% in 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. GAMMA Investing LLC raised its position in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock valued at $83,000 after buying an additional 60 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of Piper Sandler Companies during the 4th quarter worth $404,000. Finally, Oliver Luxxe Assets LLC lifted its holdings in shares of Piper Sandler Companies by 5.7% during the 4th quarter. Oliver Luxxe Assets LLC now owns 11,838 shares of the financial services provider's stock worth $3,551,000 after acquiring an additional 636 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group dropped 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 report on Friday, March 14th. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Piper Sandler Companies Stock Up 0.5 %

Piper Sandler Companies stock traded up $1.11 during mid-day trading on Monday, hitting $239.15. The company's stock had a trading volume of 109,718 shares, compared to its average volume of 118,488. The company has a market capitalization of $4.25 billion, a PE ratio of 23.40 and a beta of 1.38. Piper Sandler Companies has a 12 month low of $195.29 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $4.03 earnings per share. As a group, equities analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

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