Bank of New York Mellon Corp Has $46.72 Million Holdings in Piper Sandler Companies (NYSE:PIPR)

Bank of New York Mellon Corp lessened its position in shares of Piper Sandler Companies (NYSE:PIPR) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 155,759 shares of the financial services provider’s stock after selling 733 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.88% of Piper Sandler Companies worth $46,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC increased its position in 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 valued at $4,558,000 after purchasing an additional 2,819 shares during the period. Barclays PLC increased its position in Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares during the period. Charles Schwab Investment Management Inc. increased its position in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Piper Sandler Companies during the 3rd quarter valued at approximately $624,000. Finally, Citigroup Inc. increased its position in Piper Sandler Companies by 63.4% during the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after purchasing an additional 8,337 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $264.40 on Thursday. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 25.87 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80. The stock’s 50 day moving average price is $298.65 and its two-hundred day moving average price is $306.60.

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 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 previous year, the company posted $4.03 EPS. On average, equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analysts Set New Price Targets

PIPR has been the subject of a number of recent analyst reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group increased their price target on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

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.