Raymond James Financial Inc. Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Raymond James Financial Inc. bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,884 shares of the financial services provider's stock, valued at approximately $7,464,000. Raymond James Financial Inc. owned 0.14% of Piper Sandler Companies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc increased 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 valued at $43,000 after buying an additional 131 shares during the period. West Oak Capital LLC increased its stake 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 valued at $45,000 after acquiring an additional 1,300 shares during the period. Allworth Financial LP increased its stake in shares of Piper Sandler Companies by 238.8% during the fourth 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 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 worth $83,000 after purchasing an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Piper Sandler Companies by 336.1% in 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. Institutional investors own 72.79% of the company's stock.

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Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Down 3.7 %

Piper Sandler Companies stock traded down $9.65 during mid-day trading on Thursday, hitting $253.93. The company's stock had a trading volume of 133,676 shares, compared to its average volume of 115,303. The stock has a market capitalization of $4.50 billion, a P/E ratio of 24.85 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $183.57 and a twelve month high of $351.80. The stock's fifty day moving average price is $266.26 and its two-hundred day moving average price is $290.87.

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

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.02%. Piper Sandler Companies's payout ratio is presently 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.