Harbor Capital Advisors Inc. Reduces Stock Position in Piper Sandler Companies (NYSE:PIPR)

Harbor Capital Advisors Inc. decreased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,564 shares of the financial services provider’s stock after selling 446 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Piper Sandler Companies were worth $1,369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its position in shares of Piper Sandler Companies by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after buying an additional 2,819 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 valued at $58,245,000 after purchasing an additional 2,689 shares during the period. Barclays PLC lifted its stake in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $624,000. Finally, Citigroup Inc. grew its holdings in shares of Piper Sandler Companies by 63.4% during the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after purchasing an additional 8,337 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 5.3 %

NYSE:PIPR opened at $281.88 on Monday. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80. The stock has a fifty day simple moving average of $305.24. The firm has a market capitalization of $5.01 billion, a P/E ratio of 30.12 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The firm had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal 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 issued a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.92%. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

A number of research analysts have commented on PIPR shares. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group lowered Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price on the stock. in a research report on Monday, January 6th.

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.