Ramirez Asset Management Inc. Acquires New Position in Piper Sandler Companies (NYSE:PIPR)

Ramirez Asset Management Inc. purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 500 shares of the financial services provider’s stock, valued at approximately $150,000.

A number of other hedge funds have also modified their holdings of PIPR. IFP Advisors Inc boosted its holdings in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after buying an additional 131 shares during the period. West Oak Capital LLC boosted its stake in shares of Piper Sandler Companies by 650.0% in the fourth 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 period. Allworth Financial LP grew its position in shares of Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 160 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 60 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 242 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $253.93 on Friday. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The company’s 50-day moving average is $264.48 and its 200 day moving average is $290.06. The firm has a market capitalization of $4.50 billion, a P/E ratio of 24.85 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating 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 previous year, the company posted $4.03 earnings per share. Research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

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.