Destination Wealth Management Has $446,000 Holdings in Piper Sandler Companies (NYSE:PIPR)

Destination Wealth Management lowered its position in shares of Piper Sandler Companies (NYSE:PIPR) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,486 shares of the financial services provider’s stock after selling 562 shares during the quarter. Destination Wealth Management’s holdings in Piper Sandler Companies were worth $446,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. State Street Corp increased its stake in Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after buying an additional 2,137 shares during the period. FMR LLC increased its stake in Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after buying an additional 205,584 shares during the period. Geode Capital Management LLC increased its stake in Piper Sandler Companies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after buying an additional 7,344 shares during the period. Stephens Investment Management Group LLC increased its stake in Piper Sandler Companies by 3.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after buying an additional 6,970 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after buying an additional 2,689 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 1.0 %

PIPR stock opened at $253.70 on Friday. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.82 and a beta of 1.46. Piper Sandler Companies has a 12 month low of $183.58 and a 12 month high of $351.80. The firm has a 50 day moving average of $293.96 and a two-hundred day moving average of $304.17.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 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 in the prior year, the business earned $4.03 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analysts Set New Price Targets

PIPR has been the topic of several research reports. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report 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.