Piper Sandler Companies (NYSE:PIPR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 36.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,130 shares of the financial services provider’s stock after selling 16,133 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of Piper Sandler Companies worth $8,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. West Oak Capital LLC increased its stake in Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,300 shares during the last quarter. GAMMA Investing LLC lifted its position in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 60 shares during the period. CWM LLC boosted its stake in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. KBC Group NV increased its position in shares of Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Piper Sandler Companies by 486.6% in the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after buying an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $309.33 on Wednesday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 30.27 and a beta of 1.46. The business has a 50 day simple moving average of $308.44 and a 200 day simple moving average of $315.02. Piper Sandler Companies has a 52 week low of $182.84 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 prior year, the company posted $4.03 EPS. On average, analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

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

Analyst Ratings Changes

PIPR has been the topic of a number of research analyst reports. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group increased their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd.

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.