Handelsbanken Fonder AB Raises Stock Position in Piper Sandler Companies (NYSE:PIPR)

Handelsbanken Fonder AB lifted its position in Piper Sandler Companies (NYSE:PIPR) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,272 shares of the financial services provider’s stock after acquiring an additional 500 shares during the period. Handelsbanken Fonder AB’s holdings in Piper Sandler Companies were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. State Street Corp increased its holdings in shares of Piper Sandler Companies by 0.3% during the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after buying an additional 2,137 shares during the last quarter. FMR LLC boosted its holdings in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares during the period. Geode Capital Management LLC grew its position in shares of Piper Sandler Companies by 2.0% during the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after buying an additional 7,344 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of 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 purchasing an additional 6,970 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 acquiring an additional 2,689 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group increased their target price on 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 Stock Performance

Shares of NYSE:PIPR opened at $283.65 on Thursday. The stock has a fifty day moving average of $304.82 and a 200-day moving average of $311.05. The company has a market capitalization of $5.04 billion, a PE ratio of 27.75 and a beta of 1.46. Piper Sandler Companies has a one year low of $183.57 and a one year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating 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 last year, the firm posted $4.03 EPS. As a group, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

About Piper Sandler Companies

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.