Van ECK Associates Corp Takes Position in Piper Sandler Companies (NYSE:PIPR)

Van ECK Associates Corp acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,251 shares of the financial services provider’s stock, valued at approximately $4,275,000. Van ECK Associates Corp owned approximately 0.08% of Piper Sandler Companies as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its holdings in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $14,645,000. Barclays PLC boosted its holdings in Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Piper Sandler Companies in the third quarter valued at about $6,106,000. Finally, Fisher Asset Management LLC lifted its position in Piper Sandler Companies by 9.0% in the third quarter. Fisher Asset Management LLC now owns 145,321 shares of the financial services provider’s stock worth $41,244,000 after purchasing an additional 11,964 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 1.0 %

Shares of NYSE:PIPR opened at $306.36 on Thursday. The stock has a market cap of $5.45 billion, a PE ratio of 29.98 and a beta of 1.46. Piper Sandler Companies has a 12-month low of $182.84 and a 12-month high of $351.80. The business has a 50 day moving average of $308.98 and a 200-day moving average of $314.52.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (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 period last year, the firm posted $4.03 earnings per share. Equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.85%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Wall Street Analysts Forecast Growth

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