Great Lakes Advisors LLC Sells 1,737 Shares of Piper Sandler Companies (NYSE:PIPR)

Great Lakes Advisors LLC trimmed its position in Piper Sandler Companies (NYSE:PIPR) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 35,618 shares of the financial services provider’s stock after selling 1,737 shares during the period. Great Lakes Advisors LLC owned about 0.20% of Piper Sandler Companies worth $10,684,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after buying an additional 2,137 shares during the last quarter. FMR LLC boosted its position 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 valued at $177,395,000 after buying an additional 205,584 shares during the last quarter. Geode Capital Management LLC boosted its position in Piper Sandler Companies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after buying an additional 7,344 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in Piper Sandler Companies by 3.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after buying an additional 6,970 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Piper Sandler Companies by 1.3% in 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 buying an additional 2,689 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Piper Sandler Companies Stock Up 1.7 %

PIPR stock opened at $254.80 on Thursday. The business’s fifty day moving average is $285.58 and its 200-day moving average is $300.31. The company has a market cap of $4.52 billion, a P/E ratio of 24.93 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 period in the prior year, the company posted $4.03 EPS. Research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid 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 is Tuesday, March 4th. Piper Sandler Companies’s payout ratio is presently 25.44%.

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.