IFP Advisors Inc Acquires 131 Shares of Piper Sandler Companies (NYSE:PIPR)

IFP Advisors Inc lifted its holdings in Piper Sandler Companies (NYSE:PIPR) by 2,183.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 137 shares of the financial services provider’s stock after buying an additional 131 shares during the period. IFP Advisors Inc’s holdings in Piper Sandler Companies were worth $43,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in 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 valued at $193,680,000 after purchasing an additional 2,137 shares during the last quarter. FMR LLC grew its holdings in Piper Sandler Companies by 49.0% during the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings in Piper Sandler Companies by 2.0% during 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 purchasing an additional 7,344 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in Piper Sandler Companies by 3.4% during 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. grew its holdings 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 valued at $58,245,000 after purchasing an additional 2,689 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PIPR shares. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $256.09 on Friday. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 25.06 and a beta of 1.46. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80. The firm has a 50-day moving average of $296.49 and a two-hundred day moving average of $305.40.

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 (EPS) 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 in the previous year, the business posted $4.03 earnings per share. Research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. Piper Sandler Companies’s 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.