Mesirow Institutional Investment Management Inc. Decreases Stake in Piper Sandler Companies (NYSE:PIPR)

Mesirow Institutional Investment Management Inc. decreased its position in Piper Sandler Companies (NYSE:PIPR) by 7.4% during the 4th quarter, Holdings Channel reports. The fund owned 36,358 shares of the financial services provider’s stock after selling 2,906 shares during the quarter. Mesirow Institutional Investment Management Inc.’s holdings in Piper Sandler Companies were worth $10,906,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its position in shares of Piper Sandler Companies by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 10,447 shares of the financial services provider’s stock worth $3,134,000 after purchasing an additional 588 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Piper Sandler Companies by 769.1% in the 4th quarter. First Trust Advisors LP now owns 26,315 shares of the financial services provider’s stock valued at $7,893,000 after acquiring an additional 23,287 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Piper Sandler Companies by 7.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 19,992 shares of the financial services provider’s stock worth $6,006,000 after acquiring an additional 1,313 shares in the last quarter. Mariner LLC lifted its stake in Piper Sandler Companies by 102.3% during the fourth quarter. Mariner LLC now owns 10,551 shares of the financial services provider’s stock worth $3,165,000 after purchasing an additional 5,335 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Piper Sandler Companies by 10.9% in the fourth quarter. Barclays PLC now owns 35,852 shares of the financial services provider’s stock valued at $10,754,000 after purchasing an additional 3,524 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $224.81 on Friday. The stock has a market cap of $3.99 billion, a P/E ratio of 22.00 and a beta of 1.38. Piper Sandler Companies has a 1-year low of $184.91 and a 1-year high of $351.80. The firm has a fifty day moving average price of $238.24 and a 200 day moving average price of $272.60.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company earned $4.03 EPS. Sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 1.16%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s payout ratio is currently 25.44%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PIPR. 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 for the company in a research report on Friday, March 14th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

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.