Bank of New York Mellon Corp Sells 733 Shares of Piper Sandler Companies (NYSE:PIPR)

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

A number of other large investors have also bought and sold shares of PIPR. FMR LLC increased its stake in Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after purchasing an additional 205,584 shares during the period. Fred Alger Management LLC purchased a new position in Piper Sandler Companies in the 3rd quarter worth approximately $14,645,000. Barclays PLC increased its stake in Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after purchasing an additional 24,388 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in Piper Sandler Companies in the 3rd quarter worth approximately $6,106,000. Finally, Van ECK Associates Corp purchased a new position in Piper Sandler Companies in the 4th quarter worth approximately $4,275,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Up 0.9 %

Shares of Piper Sandler Companies stock opened at $264.40 on Thursday. The company has a market cap of $4.69 billion, a PE ratio of 25.87 and a beta of 1.46. The business has a 50 day moving average of $298.65 and a 200 day moving average of $306.60. 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 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $4.03 earnings per share. On average, research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 0.98%. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies 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.