Raymond James Financial Inc. Buys New Stake in Piper Sandler Companies (NYSE:PIPR)

Raymond James Financial Inc. acquired a new position in Piper Sandler Companies (NYSE:PIPR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PIPR. FMR LLC raised its holdings in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock worth $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Piper Sandler Companies in the 3rd quarter worth approximately $14,645,000. Proficio Capital Partners LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter worth approximately $8,097,000. Barclays PLC lifted its position in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock valued at $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new stake in Piper Sandler Companies in the third quarter valued at approximately $6,106,000. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Performance

PIPR stock traded up $0.28 during midday trading on Tuesday, reaching $268.85. The stock had a trading volume of 22,411 shares, compared to its average volume of 105,705. The firm has a fifty day simple moving average of $269.57 and a two-hundred day simple moving average of $292.00. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80. The stock has a market cap of $4.77 billion, a PE ratio of 26.28 and a beta of 1.46.

Remove Ads

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued 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 posted $4.03 EPS. On average, sell-side analysts predict 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. Stockholders of record on Tuesday, March 4th were issued a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.97%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 25.44%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. 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 note on Friday, March 14th. Finally, JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

About Piper Sandler Companies

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.