3,554 Shares in Piper Sandler Companies (NYSE:PIPR) Purchased by Private Client Services LLC

Private Client Services LLC purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,554 shares of the financial services provider’s stock, valued at approximately $880,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Piper Sandler Companies in the fourth quarter valued at $68,696,000. GAMMA Investing LLC boosted its position in Piper Sandler Companies by 39,239.4% during the 1st quarter. GAMMA Investing LLC now owns 108,970 shares of the financial services provider’s stock worth $26,988,000 after purchasing an additional 108,693 shares during the period. Invesco Ltd. boosted its position in shares of Piper Sandler Companies by 17.2% in the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock worth $209,312,000 after buying an additional 102,426 shares during the period. Vanguard Group Inc. grew its position in Piper Sandler Companies by 1.5% in 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 in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Piper Sandler Companies during the 4th quarter worth $8,097,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PIPR. The Goldman Sachs Group dropped their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $253.09 on Friday. The company has a market capitalization of $4.50 billion, a P/E ratio of 24.76 and a beta of 1.50. Piper Sandler Companies has a 12-month low of $201.97 and a 12-month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The company had revenue of $357.27 million for the quarter, compared to the consensus estimate of $366.99 million. During the same period in the previous year, the firm earned $2.79 EPS. Piper Sandler Companies’s revenue was up 14.7% on a year-over-year basis. Equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.03%. Piper Sandler Companies’s payout ratio is currently 22.73%.

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.