Piper Sandler Companies (NYSE:PIPR) Stake Lifted by Principal Securities Inc.

Principal Securities Inc. boosted its stake in Piper Sandler Companies (NYSE:PIPR) by 280.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339 shares of the financial services provider’s stock after buying an additional 250 shares during the period. Principal Securities Inc.’s holdings in Piper Sandler Companies were worth $102,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vicus Capital acquired a new stake in shares of Piper Sandler Companies in the 4th quarter worth about $207,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Piper Sandler Companies during the 4th quarter valued at about $3,293,000. Van ECK Associates Corp bought a new position in Piper Sandler Companies in the 4th quarter worth about $4,275,000. Legato Capital Management LLC increased its stake in shares of Piper Sandler Companies by 63.6% in the fourth quarter. Legato Capital Management LLC now owns 6,318 shares of the financial services provider’s stock valued at $1,895,000 after purchasing an additional 2,456 shares during the period. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Piper Sandler Companies by 3.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after buying an additional 6,970 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Trading Down 1.1 %

Shares of NYSE:PIPR opened at $277.01 on Wednesday. The company has a 50 day moving average of $305.80 and a 200-day moving average of $311.81. The firm has a market cap of $4.93 billion, a P/E ratio of 27.10 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $183.25 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period in the prior year, the business earned $4.03 earnings per share. Equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

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 dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.94%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PIPR shares. The Goldman Sachs Group increased their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

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.