Cibc World Markets Corp Takes Position in Piper Sandler Companies (NYSE:PIPR)

Cibc World Markets Corp acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,624 shares of the financial services provider’s stock, valued at approximately $487,000.

A number of other large investors have also added to or reduced their stakes in PIPR. Envestnet Portfolio Solutions Inc. boosted its position in Piper Sandler Companies by 10.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,805 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 176 shares during the period. Vestcor Inc lifted its position in Piper Sandler Companies by 25.9% during the fourth quarter. Vestcor Inc now owns 5,713 shares of the financial services provider’s stock valued at $1,714,000 after purchasing an additional 1,176 shares during the last quarter. Swiss National Bank lifted its position in Piper Sandler Companies by 0.6% during the fourth quarter. Swiss National Bank now owns 34,800 shares of the financial services provider’s stock valued at $10,438,000 after purchasing an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Piper Sandler Companies by 30.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 87 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Piper Sandler Companies by 9.2% during the fourth quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider’s stock worth $749,000 after acquiring an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. The Goldman Sachs Group reduced their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $259.10 on Friday. The business’s fifty day moving average is $271.07 and its 200 day moving average is $292.71. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The stock has a market capitalization of $4.59 billion, a PE ratio of 25.35 and a beta of 1.46.

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, 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 business earned $4.03 EPS. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

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.