751 Shares in Piper Sandler Companies (NYSE:PIPR) Acquired by Trust Point Inc.

Trust Point Inc. acquired a new stake in Piper Sandler Companies (NYSE:PIPR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 751 shares of the financial services provider’s stock, valued at approximately $225,000.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Piper Sandler Companies by 2.1% in the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 46 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Piper Sandler Companies by 10.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,254 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 222 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Piper Sandler Companies by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,684 shares of the financial services provider’s stock worth $2,229,000 after purchasing an additional 308 shares in the last quarter. CWM LLC increased its holdings in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $77,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $319.62 on Friday. The company’s 50 day simple moving average is $304.59 and its 200 day simple moving average is $314.98. Piper Sandler Companies has a 1 year low of $177.80 and a 1 year high of $351.80. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 31.27 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $4.03 EPS. As a group, analysts anticipate that Piper Sandler Companies will post 13.47 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.81%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PIPR. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday. The Goldman Sachs Group raised their price target on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, StockNews.com cut shares of 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.