Baird Financial Group Inc. Has $213,000 Holdings in Piper Sandler Companies (NYSE:PIPR)

Baird Financial Group Inc. increased its stake in Piper Sandler Companies (NYSE:PIPR) by 140.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 711 shares of the financial services provider’s stock after purchasing an additional 415 shares during the quarter. Baird Financial Group Inc.’s holdings in Piper Sandler Companies were worth $213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PIPR. Norges Bank acquired a new position in Piper Sandler Companies in the 4th quarter worth $68,696,000. Invesco Ltd. boosted its stake in Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock worth $209,312,000 after purchasing an additional 102,426 shares during the period. Vanguard Group Inc. boosted its stake in Piper Sandler Companies by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock worth $618,974,000 after purchasing an additional 31,400 shares during the period. Proficio Capital Partners LLC acquired a new position in Piper Sandler Companies in the 4th quarter worth $8,097,000. Finally, Raymond James Financial Inc. acquired a new position in Piper Sandler Companies in the 4th quarter worth $7,464,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of 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 reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Piper Sandler Companies Trading Up 0.8%

Shares of NYSE:PIPR opened at $267.47 on Friday. Piper Sandler Companies has a one year low of $201.97 and a one year high of $351.80. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 26.17 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The firm had revenue of $357.27 million for the quarter, compared to analysts’ expectations of $366.99 million. During the same period in the previous year, the firm posted $2.79 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 0.97%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 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.