JPMorgan Chase & Co. Reduces Position in Piper Sandler Companies (NYSE:PIPR)

JPMorgan Chase & Co. decreased its holdings in Piper Sandler Companies (NYSE:PIPR) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,203 shares of the financial services provider’s stock after selling 2,784 shares during the period. JPMorgan Chase & Co. owned 1.83% of Piper Sandler Companies worth $97,545,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Barclays PLC raised its stake in shares of Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Piper Sandler Companies by 336.1% in 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. Tidal Investments LLC boosted its position in shares of Piper Sandler Companies by 75.7% in the third quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock valued at $1,732,000 after acquiring an additional 2,629 shares during the period. BNP Paribas Financial Markets grew its stake in Piper Sandler Companies by 22.3% during the third quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider’s stock valued at $2,615,000 after acquiring an additional 1,681 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $259.03 on Thursday. The company’s fifty day moving average price is $259.45 and its 200-day moving average price is $287.41. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 25.35 and a beta of 1.38. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its 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 in the previous year, the firm earned $4.03 EPS. As a group, equities research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.00%. Piper Sandler Companies’s payout ratio is 25.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a 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.