Axiom Investors LLC DE Buys 17,261 Shares of Piper Sandler Companies (NYSE:PIPR)

Axiom Investors LLC DE boosted its position in shares of Piper Sandler Companies (NYSE:PIPR) by 44.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,770 shares of the financial services provider’s stock after acquiring an additional 17,261 shares during the period. Axiom Investors LLC DE owned 0.31% of Piper Sandler Companies worth $16,728,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Piper Sandler Companies during the 4th quarter valued at $68,696,000. FMR LLC increased its stake in Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after buying an additional 205,584 shares in the last quarter. Vanguard Group Inc. raised its holdings in Piper Sandler Companies by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock valued at $618,974,000 after acquiring an additional 31,400 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Piper Sandler Companies in the fourth quarter valued at about $8,097,000. Finally, Raymond James Financial Inc. bought a new position in shares of Piper Sandler Companies in the fourth quarter worth about $7,464,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $247.06 on Monday. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 24.17 and a beta of 1.46. The company’s 50 day moving average price is $262.84. Piper Sandler Companies has a 12 month low of $183.58 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating 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 firm earned $4.03 earnings per share. On average, 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 25.44%.

Analysts Set New Price Targets

PIPR has been the topic of a number of research analyst reports. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

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.