Piper Sandler Companies (NYSE:PIPR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 325,203 shares of the financial services provider's stock after selling 2,784 shares during the quarter. JPMorgan Chase & Co. owned about 1.83% of Piper Sandler Companies worth $97,545,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PIPR. EFG Asset Management North America Corp. purchased a new stake in Piper Sandler Companies during the 4th quarter valued at about $1,246,000. Vanguard Group Inc. grew its position in shares of Piper Sandler Companies by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock valued at $618,974,000 after purchasing an additional 31,400 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Piper Sandler Companies by 62.5% in the fourth quarter. LPL Financial LLC now owns 5,617 shares of the financial services provider's stock valued at $1,685,000 after purchasing an additional 2,161 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Piper Sandler Companies during the fourth quarter worth approximately $1,080,000. Finally, Teacher Retirement System of Texas boosted its stake in Piper Sandler Companies by 53.9% during the fourth quarter. Teacher Retirement System of Texas now owns 8,981 shares of the financial services provider's stock worth $2,694,000 after buying an additional 3,146 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Down 1.9 %

NYSE:PIPR traded down $4.08 on Monday, reaching $212.92. The company's stock had a trading volume of 266,600 shares, compared to its average volume of 123,325. Piper Sandler Companies has a 12-month low of $183.57 and a 12-month high of $351.80. The stock has a 50 day moving average price of $251.66 and a 200 day moving average price of $283.64. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 20.83 and a beta of 1.38.

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

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.22%. Piper Sandler Companies's payout ratio is currently 25.44%.

Piper Sandler Companies 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.