King Luther Capital Management Corp Buys 1,717 Shares of Piper Sandler Companies (NYSE:PIPR)

King Luther Capital Management Corp boosted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,395 shares of the financial services provider’s stock after buying an additional 1,717 shares during the period. King Luther Capital Management Corp’s holdings in Piper Sandler Companies were worth $6,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. IFP Advisors Inc increased 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 purchasing an additional 131 shares during the last quarter. West Oak Capital LLC increased its stake in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 1,300 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 242 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Up 2.7 %

Shares of PIPR opened at $250.91 on Wednesday. The business has a fifty day moving average of $288.32 and a 200 day moving average of $301.54. The company has a market cap of $4.45 billion, a PE ratio of 24.55 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earnings per share. As a group, research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.04%. Piper Sandler Companies’s dividend payout ratio is 25.44%.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies 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.