Park Avenue Securities LLC Increases Holdings in Piper Sandler Companies (NYSE:PIPR)

Park Avenue Securities LLC lifted its position in shares of Piper Sandler Companies (NYSE:PIPR) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,103 shares of the financial services provider’s stock after buying an additional 990 shares during the period. Park Avenue Securities LLC’s holdings in Piper Sandler Companies were worth $931,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PIPR. West Oak Capital LLC raised its holdings in shares of Piper Sandler Companies by 650.0% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,300 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Piper Sandler Companies during the 3rd quarter valued at about $77,000. GAMMA Investing LLC grew its position in Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 60 shares during the last quarter. CWM LLC grew its position in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the last quarter. Finally, KBC Group NV grew its position in Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 95 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $304.98 on Tuesday. Piper Sandler Companies has a one year low of $166.01 and a one year high of $351.80. The firm has a market capitalization of $5.42 billion, a P/E ratio of 32.58 and a beta of 1.46. The business has a fifty day moving average of $298.95 and a 200 day moving average of $312.03.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The company had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a research note on Monday, January 6th.

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.