Mercer Global Advisors Inc. ADV Acquires 56 Shares of Piper Sandler Companies (NYSE:PIPR)

Mercer Global Advisors Inc. ADV grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 4.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,394 shares of the financial services provider’s stock after acquiring an additional 56 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Piper Sandler Companies were worth $418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PIPR. IFP Advisors Inc raised 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 worth $43,000 after purchasing an additional 131 shares during the period. Allworth Financial LP grew its stake in shares of Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after buying an additional 160 shares during the last quarter. Smartleaf Asset Management LLC increased 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 during the period. Principal Securities Inc. lifted its stake in shares of Piper Sandler Companies by 280.9% in the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 250 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Piper Sandler Companies by 30.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 87 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PIPR. The Goldman Sachs Group decreased their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

Piper Sandler Companies Stock Up 1.1%

Piper Sandler Companies stock opened at $267.84 on Wednesday. The stock has a market cap of $4.76 billion, a PE ratio of 26.21 and a beta of 1.50. Piper Sandler Companies has a 1-year low of $201.97 and a 1-year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $2.85 by $1.24. The business had revenue of $357.27 million during the quarter, compared to analysts’ expectations of $366.99 million. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS. Sell-side analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, May 30th. Piper Sandler Companies’s payout ratio is 22.73%.

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.