Van ECK Associates Corp Invests $4.28 Million in Piper Sandler Companies (NYSE:PIPR)

Van ECK Associates Corp purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,251 shares of the financial services provider's stock, valued at approximately $4,275,000. Van ECK Associates Corp owned 0.08% of Piper Sandler Companies at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. West Oak Capital LLC lifted its stake in Piper Sandler Companies by 650.0% in the 4th 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 in the last quarter. GAMMA Investing LLC increased its holdings 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 worth $83,000 after acquiring an additional 60 shares during the last quarter. CWM LLC grew its holdings in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after buying an additional 57 shares in the last quarter. KBC Group NV grew its holdings in shares of Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider's stock worth $156,000 after purchasing an additional 95 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Piper Sandler Companies by 486.6% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider's stock worth $186,000 after purchasing an additional 545 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Piper Sandler Companies Price Performance

Shares of PIPR stock traded down $11.07 during trading hours on Friday, reaching $287.13. The company had a trading volume of 59,371 shares, compared to its average volume of 96,844. The business has a fifty day simple moving average of $308.84 and a 200-day simple moving average of $313.95. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 28.09 and a beta of 1.46. Piper Sandler Companies has a 12 month low of $183.25 and a 12 month high of $351.80.

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 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 quarter last year, the company earned $4.03 EPS. On average, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.91%. Piper Sandler Companies's payout ratio is presently 25.44%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PIPR. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a "neutral" rating in a research report 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.