Private Wealth Partners LLC Purchases New Shares in Piper Sandler Companies (NYSE:PIPR)

Private Wealth Partners LLC purchased a new position in Piper Sandler Companies (NYSE:PIPR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,215 shares of the financial services provider’s stock, valued at approximately $664,000.

A number of other hedge funds also recently bought and sold shares of PIPR. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Piper Sandler Companies in the fourth quarter worth approximately $3,293,000. Truist Financial Corp grew its position in Piper Sandler Companies by 4.5% during the 4th quarter. Truist Financial Corp now owns 24,203 shares of the financial services provider’s stock worth $7,260,000 after purchasing an additional 1,049 shares in the last quarter. Principal Financial Group Inc. raised its stake in Piper Sandler Companies by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 77,506 shares of the financial services provider’s stock valued at $23,248,000 after purchasing an additional 2,199 shares during the period. Allworth Financial LP raised its stake in Piper Sandler Companies by 238.8% during 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 period. Finally, Principal Securities Inc. lifted its holdings in shares of Piper Sandler Companies by 280.9% in the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 250 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Down 1.0 %

Piper Sandler Companies stock opened at $306.36 on Thursday. Piper Sandler Companies has a 12 month low of $182.84 and a 12 month high of $351.80. The stock has a market cap of $5.45 billion, a P/E ratio of 29.98 and a beta of 1.46. The company’s fifty day simple moving average is $308.98 and its 200-day simple moving average is $314.52.

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, topping 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 quarter in the prior year, the firm posted $4.03 earnings per share. On average, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) 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.