Charles Schwab Investment Management Inc. Sells 297 Shares of Piper Sandler Companies (NYSE:PIPR)

Charles Schwab Investment Management Inc. cut its position in shares of Piper Sandler Companies (NYSE:PIPR) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,929 shares of the financial services provider’s stock after selling 297 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.15% of Piper Sandler Companies worth $61,468,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its stake in shares of Piper Sandler Companies by 42.0% in the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the financial services provider’s stock worth $439,000 after acquiring an additional 458 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Piper Sandler Companies in the third quarter worth $880,000. Victory Capital Management Inc. grew its stake in shares of Piper Sandler Companies by 20.6% in the third quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock worth $4,509,000 after acquiring an additional 2,713 shares during the last quarter. KBC Group NV grew its stake in shares of Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 95 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Piper Sandler Companies by 2.7% in the third quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 58 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $254.80 on Thursday. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The stock has a market capitalization of $4.52 billion, a PE ratio of 24.93 and a beta of 1.46. The business’s fifty day moving average is $285.58 and its 200 day moving average is $300.31.

Piper Sandler Companies (NYSE:PIPR) last posted its 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 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 EPS. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued 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 25.44%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the company 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 research report on Tuesday, January 7th. Finally, JMP Securities reaffirmed 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.