Park Avenue Securities LLC Buys 990 Shares of Piper Sandler Companies (NYSE:PIPR)

Park Avenue Securities LLC raised its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 46.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,103 shares of the financial services provider’s stock after purchasing an additional 990 shares during the period. Park Avenue Securities LLC’s holdings in Piper Sandler Companies were worth $931,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PIPR. State Street Corp boosted its stake in shares of Piper Sandler Companies by 0.3% in the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after acquiring an additional 2,137 shares during the period. FMR LLC boosted its stake in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after acquiring an additional 205,584 shares during the period. Geode Capital Management LLC boosted its stake in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after acquiring an additional 7,344 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares during the period. Finally, Systematic Financial Management LP boosted its stake in shares of Piper Sandler Companies by 3.4% in the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock worth $55,724,000 after acquiring an additional 6,507 shares during the period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 0.8 %

NYSE:PIPR opened at $304.98 on Tuesday. The company has a market capitalization of $5.42 billion, a P/E ratio of 32.58 and a beta of 1.46. Piper Sandler Companies has a 12 month low of $166.01 and a 12 month high of $351.80. The business’s 50-day moving average is $298.95 and its 200 day moving average is $312.03.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.85%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PIPR. The Goldman Sachs Group lowered Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a research note on Monday, January 6th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

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.