Modus Advisors LLC Takes Position in Piper Sandler Companies (NYSE:PIPR)

Modus Advisors LLC purchased a new stake in Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,348 shares of the financial services provider’s stock, valued at approximately $404,000.

A number of other large investors have also recently added to or reduced their stakes in PIPR. State Street Corp raised its position in shares of Piper Sandler Companies by 0.3% during the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after acquiring an additional 2,137 shares in the last quarter. FMR LLC raised its holdings 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 worth $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Geode Capital Management LLC lifted its position in Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after purchasing an additional 7,344 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Piper Sandler Companies by 3.4% during the 3rd quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after purchasing an additional 6,507 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th.

Piper Sandler Companies Price Performance

PIPR traded down $1.14 on Friday, reaching $298.17. 17,179 shares of the company traded hands, compared to its average volume of 30,699. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 31.86 and a beta of 1.43. The stock’s 50 day moving average price is $314.98 and its 200-day moving average price is $309.79. Piper Sandler Companies has a 52-week low of $162.50 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The firm had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

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.