Envestnet Asset Management Inc. Grows Stake in Piper Sandler Companies (NYSE:PIPR)

Envestnet Asset Management Inc. increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 2.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 59,341 shares of the financial services provider’s stock after acquiring an additional 1,566 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Piper Sandler Companies were worth $17,799,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PIPR. MML Investors Services LLC raised its holdings in Piper Sandler Companies by 4.3% during the third quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 74 shares in the last quarter. Barclays PLC grew its position in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after buying an additional 24,388 shares during the last quarter. Geode Capital Management LLC raised its stake 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 worth $107,184,000 after acquiring an additional 7,344 shares in the last quarter. Tidal Investments LLC lifted its position in 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 last quarter. Finally, GAMMA Investing LLC boosted its stake in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $224.18 on Wednesday. The company has a market capitalization of $3.97 billion, a P/E ratio of 21.94 and a beta of 1.38. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80. The company’s fifty day moving average is $241.82 and its two-hundred day moving average is $275.81.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $4.03 earnings per share. As a group, equities analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.16%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Analyst Ratings Changes

A number of research firms have recently commented on PIPR. The Goldman Sachs Group cut their target price on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

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.