Raymond James Financial Inc. Makes New $7.46 Million Investment in Piper Sandler Companies (NYSE:PIPR)

Raymond James Financial Inc. purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,884 shares of the financial services provider’s stock, valued at approximately $7,464,000. Raymond James Financial Inc. owned about 0.14% of Piper Sandler Companies at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in shares of Piper Sandler Companies by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 2,819 shares during the last quarter. Barclays PLC boosted its position in shares of Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 242 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 acquiring an additional 2,689 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Piper Sandler Companies in the third quarter worth approximately $624,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

NYSE PIPR opened at $259.10 on Monday. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The firm has a 50 day simple moving average of $271.07. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 25.35 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS 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 last year, the business earned $4.03 EPS. As a group, sell-side analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.00%. Piper Sandler Companies’s payout ratio is 25.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PIPR shares. The Goldman Sachs Group decreased their target price 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, March 14th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report 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.