Fmr LLC Cuts Stake in Piper Sandler Companies (NYSE:PIPR)

Fmr LLC reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 611,126 shares of the financial services provider’s stock after selling 13,922 shares during the quarter. Fmr LLC’s holdings in Piper Sandler Companies were worth $183,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Piper Sandler Companies in the fourth quarter valued at about $68,696,000. Vanguard Group Inc. raised its position in shares of Piper Sandler Companies by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock worth $618,974,000 after acquiring an additional 31,400 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Piper Sandler Companies during the fourth quarter valued at $8,097,000. Raymond James Financial Inc. purchased a new position in Piper Sandler Companies during the 4th quarter valued at about $7,464,000. Finally, Barclays PLC lifted its holdings in shares of Piper Sandler Companies by 307.2% during the third 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 last quarter. 72.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

PIPR opened at $219.13 on Friday. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The firm has a market cap of $3.89 billion, a P/E ratio of 21.44 and a beta of 1.38. The company has a 50 day simple moving average of $244.15 and a two-hundred day simple moving average of $277.54.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company posted $4.03 earnings per share. Equities analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.19%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is presently 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.