Harbor Capital Advisors Inc. Decreases Position in Piper Sandler Companies (NYSE:PIPR)

Harbor Capital Advisors Inc. lowered its position in Piper Sandler Companies (NYSE:PIPR) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,564 shares of the financial services provider’s stock after selling 446 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Piper Sandler Companies were worth $1,369,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Cerity Partners LLC increased its holdings 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 acquiring an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Barclays PLC increased its stake in shares of Piper Sandler Companies by 307.2% during 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Piper Sandler Companies in the 3rd quarter valued at approximately $624,000. Finally, Citigroup Inc. lifted its stake in Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after buying an additional 8,337 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group cut Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a research report on Monday, January 6th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $281.88 on Monday. The firm has a fifty day simple moving average of $305.24. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 30.12 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, equities research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

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.