Smartleaf Asset Management LLC Raises Stake in Piper Sandler Companies (NYSE:PIPR)

Smartleaf Asset Management LLC raised its stake in Piper Sandler Companies (NYSE:PIPR) by 336.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 314 shares of the financial services provider’s stock after buying an additional 242 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Piper Sandler Companies were worth $94,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $14,645,000. Proficio Capital Partners LLC acquired a new position in shares of Piper Sandler Companies in the 4th quarter valued at $8,097,000. Barclays PLC lifted its stake in shares of 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 last quarter. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $6,106,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

PIPR stock opened at $253.70 on Friday. The firm has a market capitalization of $4.50 billion, a P/E ratio of 24.82 and a beta of 1.46. The business’s 50-day moving average is $293.96 and its two-hundred day moving average is $303.65. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results 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 return on equity of 17.00% and a net margin of 11.87%. During the same period last year, the company posted $4.03 EPS. On average, analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared 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. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analyst Ratings Changes

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