C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Shares in Piper Sandler Companies (NYSE:PIPR)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,980 shares of the financial services provider’s stock, valued at approximately $3,293,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned about 0.06% of Piper Sandler Companies at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Cerity Partners LLC grew its holdings in shares of Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after buying an additional 2,819 shares during the period. Barclays PLC grew its stake in Piper Sandler Companies by 307.2% in 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 period. Charles Schwab Investment Management Inc. grew its stake in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after acquiring an additional 2,689 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Piper Sandler Companies in the third quarter worth about $624,000. Finally, Citigroup Inc. raised its position in shares of Piper Sandler Companies by 63.4% during the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after purchasing an additional 8,337 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PIPR shares. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $299.67 on Thursday. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 29.32 and a beta of 1.46. The stock’s 50-day moving average is $305.98 and its 200-day moving average is $316.22. Piper Sandler Companies has a one year low of $177.80 and a one year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $4.03 EPS. On average, equities analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend 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.