Wells Fargo & Company MN Acquires 2,613 Shares of Piper Sandler Companies (NYSE:PIPR)

Wells Fargo & Company MN lifted its position in shares of Piper Sandler Companies (NYSE:PIPR) by 29.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,483 shares of the financial services provider’s stock after acquiring an additional 2,613 shares during the period. Wells Fargo & Company MN’s holdings in Piper Sandler Companies were worth $3,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PIPR. Barclays PLC increased its holdings in shares of 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 raised its holdings in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after buying an additional 242 shares during the last quarter. Tidal Investments LLC boosted its position in Piper Sandler Companies by 75.7% during the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock worth $1,732,000 after buying an additional 2,629 shares during the period. IFP Advisors Inc increased its position in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 131 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of Piper Sandler Companies by 46.9% during the fourth quarter. Park Avenue Securities LLC now owns 3,103 shares of the financial services provider’s stock worth $931,000 after purchasing an additional 990 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Up 3.8 %

NYSE PIPR opened at $225.89 on Wednesday. The company has a market cap of $4.01 billion, a P/E ratio of 22.10 and a beta of 1.38. Piper Sandler Companies has a one year low of $189.30 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 company posted $4.03 earnings per share. As a group, research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.15%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several recent research reports. 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 report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com lowered shares of 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.