Prudential Financial Inc. Acquires 88 Shares of Piper Sandler Companies (NYSE:PIPR)

Prudential Financial Inc. raised its stake in Piper Sandler Companies (NYSE:PIPR) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,882 shares of the financial services provider’s stock after acquiring an additional 88 shares during the quarter. Prudential Financial Inc.’s holdings in Piper Sandler Companies were worth $15,562,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Piper Sandler Companies by 63.4% during the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after buying an additional 8,337 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after acquiring an additional 2,819 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $624,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Piper Sandler Companies by 3.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,032 shares of the financial services provider’s stock valued at $2,847,000 after acquiring an additional 348 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PIPR has been the subject of a number of recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group lowered their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Stock Down 3.7 %

NYSE PIPR opened at $253.93 on Friday. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.85 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80. The stock has a fifty day simple moving average of $264.48 and a 200 day simple moving average of $290.06.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 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 period last year, the firm posted $4.03 EPS. Research analysts expect that Piper Sandler Companies will post 14.14 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, March 14th. Shareholders 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 yield of 1.02%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

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.