GAMMA Investing LLC Purchases 60 Shares of Piper Sandler Companies (NYSE:PIPR)

GAMMA Investing LLC raised its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 27.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 277 shares of the financial services provider’s stock after acquiring an additional 60 shares during the period. GAMMA Investing LLC’s holdings in Piper Sandler Companies were worth $83,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in shares of Piper Sandler Companies by 75.7% in the third quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock worth $1,732,000 after buying an additional 2,629 shares during the period. Arete Wealth Advisors LLC purchased a new position in Piper Sandler Companies in the 3rd quarter worth approximately $310,000. Coldstream Capital Management Inc. lifted its position in Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 41 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Piper Sandler Companies by 2.0% during the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after purchasing an additional 7,344 shares during the period. Finally, Vestcor Inc grew its holdings in shares of Piper Sandler Companies by 23.5% in the third quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 863 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 5.3 %

Shares of Piper Sandler Companies stock opened at $281.88 on Friday. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80. The company has a market cap of $5.01 billion, a PE ratio of 30.12 and a beta of 1.46. The business has a 50 day moving average of $305.24 and a 200 day moving average of $311.33.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The company had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. On average, research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PIPR shares. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group cut Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price on the stock. in a research note on Monday, January 6th.

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.