Proficio Capital Partners LLC Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Proficio Capital Partners LLC purchased a new position in Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,996 shares of the financial services provider’s stock, valued at approximately $8,097,000. Proficio Capital Partners LLC owned 0.15% of Piper Sandler Companies at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PIPR. State Street Corp lifted its holdings in shares of Piper Sandler Companies by 0.3% in the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after buying an additional 2,137 shares in the last quarter. FMR LLC lifted its holdings in shares of 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 buying an additional 205,584 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after buying an additional 7,344 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of Piper Sandler Companies by 3.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock worth $64,355,000 after buying an additional 6,970 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after buying an additional 2,689 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PIPR. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note 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 decreased their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday.

Piper Sandler Companies Stock Up 0.8 %

Piper Sandler Companies stock opened at $254.06 on Friday. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 24.86 and a beta of 1.46. The firm’s fifty day moving average is $280.51 and its 200 day moving average is $297.56. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the company earned $4.03 EPS. On average, equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

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.