Vestcor Inc Grows Position in Piper Sandler Companies (NYSE:PIPR)

Vestcor Inc lifted its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,713 shares of the financial services provider's stock after acquiring an additional 1,176 shares during the quarter. Vestcor Inc's holdings in Piper Sandler Companies were worth $1,714,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PIPR. FMR LLC grew its position in Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock valued at $177,395,000 after buying an additional 205,584 shares during the period. Fred Alger Management LLC bought a new stake in Piper Sandler Companies during the third quarter valued at approximately $14,645,000. Proficio Capital Partners LLC bought a new stake in Piper Sandler Companies during the fourth quarter valued at approximately $8,097,000. Raymond James Financial Inc. bought a new stake in Piper Sandler Companies during the fourth quarter valued at approximately $7,464,000. Finally, Barclays PLC grew 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 buying an additional 24,388 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of PIPR traded up $5.11 during mid-day trading on Wednesday, reaching $257.90. The stock had a trading volume of 78,433 shares, compared to its average volume of 104,945. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 25.23 and a beta of 1.46. Piper Sandler Companies has a 12 month low of $183.58 and a 12 month high of $351.80. The business has a fifty day moving average of $276.34 and a 200 day moving average of $295.87.

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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 analysts' consensus estimates 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 earned $4.03 earnings per share. On average, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio (DPR) is presently 25.44%.

Analyst Ratings Changes

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

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.