Rhumbline Advisers Reduces Position in Piper Sandler Companies (NYSE:PIPR)

Rhumbline Advisers decreased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,142 shares of the financial services provider’s stock after selling 974 shares during the quarter. Rhumbline Advisers owned about 0.27% of Piper Sandler Companies worth $14,140,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. West Oak Capital LLC boosted its holdings in Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,300 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares during the last quarter. CWM LLC boosted its holdings in Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares during the last quarter. KBC Group NV boosted its holdings in Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 95 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Piper Sandler Companies by 486.6% in the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 545 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PIPR shares. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $287.97 on Friday. The business’s 50-day moving average is $308.16 and its two-hundred day moving average is $313.05. Piper Sandler Companies has a 12 month low of $183.25 and a 12 month high of $351.80. The firm has a market capitalization of $5.12 billion, a PE ratio of 28.18 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data 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 return on equity of 17.00% and a net margin of 11.87%. During the same period last year, the firm earned $4.03 EPS. Equities analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 25.44%.

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.