Vestcor Inc Purchases 1,176 Shares of Piper Sandler Companies (NYSE:PIPR)

Vestcor Inc grew its position in shares of Piper Sandler Companies (NYSE:PIPR) by 25.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,713 shares of the financial services provider’s stock after purchasing 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 SEC filing.

Several other institutional investors have also recently modified their holdings of PIPR. IFP Advisors Inc grew its position in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 131 shares during the last quarter. Allworth Financial LP grew its position in Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC grew its position in 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. Smartleaf Asset Management LLC grew its position in Piper Sandler Companies by 336.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 242 shares during the last quarter. Finally, Principal Securities Inc. grew its position in Piper Sandler Companies by 280.9% during the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 250 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $254.06 on Friday. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The stock has a 50 day simple moving average of $280.51 and a two-hundred day simple moving average of $298.05. The stock has a market cap of $4.50 billion, a P/E ratio of 24.86 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data 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 return on equity of 17.00% and a net margin of 11.87%. During the same period in the previous year, the company posted $4.03 earnings per share. Sell-side analysts predict 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 was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s 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.