Amundi Has $2.44 Million Stake in Piper Sandler Companies (NYSE:PIPR)

Amundi boosted its position in shares of Piper Sandler Companies (NYSE:PIPR) by 194.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,202 shares of the financial services provider’s stock after purchasing an additional 5,415 shares during the period. Amundi’s holdings in Piper Sandler Companies were worth $2,440,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after buying an additional 2,819 shares in the last quarter. Barclays PLC grew its stake in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after buying an additional 24,388 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Piper Sandler Companies by 336.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after buying an additional 242 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after buying an additional 2,689 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Piper Sandler Companies during the third quarter worth about $624,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

PIPR stock opened at $254.06 on Monday. The company has a market capitalization of $4.50 billion, a PE ratio of 24.86 and a beta of 1.46. Piper Sandler Companies has a 12 month low of $183.58 and a 12 month high of $351.80. The business has a 50-day moving average of $280.51.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earnings per share. Sell-side analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.02%. Piper Sandler Companies’s payout ratio is 25.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a report on Friday.

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.