Vanguard Group Inc. Acquires 31,400 Shares of Piper Sandler Companies (NYSE:PIPR)

Vanguard Group Inc. increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,063,590 shares of the financial services provider’s stock after buying an additional 31,400 shares during the quarter. Vanguard Group Inc. owned 0.12% of Piper Sandler Companies worth $618,974,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PIPR. IFP Advisors Inc lifted its holdings in shares of Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 131 shares during the last quarter. West Oak Capital LLC increased its position in Piper Sandler Companies by 650.0% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,300 shares in the last quarter. Allworth Financial LP lifted its stake in Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 160 shares during the last quarter. GAMMA Investing LLC boosted its position in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after buying an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Piper Sandler Companies by 336.1% during the fourth 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. 72.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Performance

PIPR opened at $247.06 on Monday. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The firm has a market capitalization of $4.38 billion, a P/E ratio of 24.17 and a beta of 1.46. The business’s fifty day simple moving average is $262.84.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping 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 period last year, the firm posted $4.03 EPS. On average, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.05%. Piper Sandler Companies’s payout ratio is 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.