Victory Capital Management Inc. Lowers Holdings in Piper Sandler Companies (NYSE:PIPR)

Victory Capital Management Inc. lessened its stake in Piper Sandler Companies (NYSE:PIPR) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,630 shares of the financial services provider’s stock after selling 3,259 shares during the quarter. Victory Capital Management Inc.’s holdings in Piper Sandler Companies were worth $3,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Cerity Partners LLC raised its position in shares of Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 2,819 shares during the last quarter. Barclays PLC raised its position 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 buying an additional 24,388 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after buying an additional 242 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 worth $58,245,000 after buying an additional 2,689 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Piper Sandler Companies in the 3rd quarter worth about $624,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 0.8 %

Shares of NYSE PIPR opened at $254.06 on Friday. Piper Sandler Companies has a 12-month low of $183.58 and a 12-month high of $351.80. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.86 and a beta of 1.46. The firm has a 50 day moving average of $280.51 and a 200 day moving average of $297.56.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $4.03 earnings per share. Sell-side analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday.

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.