Allspring Global Investments Holdings LLC Trims Stake in Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC lessened its holdings in Piper Sandler Companies (NYSE:PIPR) by 36.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,130 shares of the financial services provider’s stock after selling 16,133 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Piper Sandler Companies worth $8,420,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PIPR. Stephens Investment Management Group LLC raised its holdings in shares of Piper Sandler Companies by 3.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after acquiring an additional 6,970 shares in the last quarter. Calamos Advisors LLC raised its stake in Piper Sandler Companies by 4.2% in the fourth quarter. Calamos Advisors LLC now owns 10,681 shares of the financial services provider’s stock valued at $3,204,000 after purchasing an additional 427 shares in the last quarter. Trust Point Inc. bought a new stake in Piper Sandler Companies during the fourth quarter valued at approximately $225,000. Precision Wealth Strategies LLC purchased a new position in Piper Sandler Companies in the 4th quarter worth approximately $407,000. Finally, KBC Group NV increased its holdings in shares of Piper Sandler Companies by 39.6% in the 4th quarter. KBC Group NV now owns 768 shares of the financial services provider’s stock worth $230,000 after buying an additional 218 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 1.1 %

Shares of NYSE:PIPR opened at $309.33 on Wednesday. The stock has a market capitalization of $5.50 billion, a P/E ratio of 30.27 and a beta of 1.46. The stock’s 50-day moving average price is $308.44 and its 200-day moving average price is $315.02. Piper Sandler Companies has a 12-month low of $182.84 and a 12-month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same quarter in the previous year, the firm posted $4.03 EPS. As a group, research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is 25.44%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PIPR. The Goldman Sachs Group upped their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities restated 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.