Rhumbline Advisers trimmed its holdings in shares of Piper Sandler Companies (NYSE:PIPR – Free Report) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,142 shares of the financial services provider’s stock after selling 974 shares during the quarter. Rhumbline Advisers’ holdings in Piper Sandler Companies were worth $14,140,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vicus Capital bought a new stake in Piper Sandler Companies in the fourth quarter valued at about $207,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Piper Sandler Companies in the fourth quarter valued at about $3,293,000. Van ECK Associates Corp bought a new stake in Piper Sandler Companies in the fourth quarter valued at about $4,275,000. Legato Capital Management LLC increased its holdings in Piper Sandler Companies by 63.6% in the fourth quarter. Legato Capital Management LLC now owns 6,318 shares of the financial services provider’s stock valued at $1,895,000 after buying an additional 2,456 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in Piper Sandler Companies by 3.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after buying an additional 6,970 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.
Piper Sandler Companies Stock Down 3.4 %
Shares of PIPR stock opened at $287.97 on Friday. The business has a 50 day moving average of $308.16 and a two-hundred day moving average of $313.05. Piper Sandler Companies has a 52 week low of $183.25 and a 52 week high of $351.80. The company has a market cap of $5.12 billion, a P/E ratio of 28.18 and a beta of 1.46.
Piper Sandler Companies (NYSE:PIPR – Get Free Report) last issued its quarterly earnings data 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 quarter in the prior year, the firm earned $4.03 earnings per share. Analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.
Piper Sandler Companies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd.
Check Out Our Latest Research Report on Piper Sandler Companies
About Piper Sandler Companies
(Free Report)
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.
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