Victory Capital Management Inc. Lowers Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Victory Capital Management Inc. trimmed its position in Piper Sandler Companies (NYSE:PIPR) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,630 shares of the financial services provider’s stock after selling 3,259 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Piper Sandler Companies worth $3,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PIPR. Cerity Partners LLC raised its stake in Piper Sandler Companies by 21.3% in the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after purchasing an additional 2,819 shares in the last quarter. Barclays PLC grew its position in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Piper Sandler Companies by 336.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 242 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after acquiring an additional 2,689 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Piper Sandler Companies during the third quarter valued at approximately $624,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $254.06 on Friday. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.86 and a beta of 1.46. The company’s 50 day moving average price is $280.51 and its 200-day moving average price is $297.56.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping 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 previous year, the business earned $4.03 EPS. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a 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%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. The Goldman Sachs Group reduced 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 report on Friday. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Company 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.