Allspring Global Investments Holdings LLC Sells 16,133 Shares of Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC decreased its position in Piper Sandler Companies (NYSE:PIPR) by 36.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,130 shares of the financial services provider’s stock after selling 16,133 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Piper Sandler Companies were worth $8,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its position in Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the period. Creative Planning grew its position in shares of Piper Sandler Companies by 34.8% during the third quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock valued at $2,636,000 after purchasing an additional 2,399 shares in the last quarter. Blue Trust Inc. grew its position in shares of Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 545 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Piper Sandler Companies by 5.3% in the third quarter. Raymond James & Associates now owns 29,325 shares of the financial services provider’s stock worth $8,323,000 after purchasing an additional 1,484 shares during the last quarter. Finally, Moody Aldrich Partners LLC lifted its position in shares of Piper Sandler Companies by 14.8% in the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock worth $6,869,000 after buying an additional 3,124 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Up 1.1 %

Shares of PIPR stock opened at $309.33 on Wednesday. Piper Sandler Companies has a twelve month low of $182.84 and a twelve month high of $351.80. The stock has a fifty day simple moving average of $308.44 and a two-hundred day simple moving average of $315.02. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 30.27 and a beta of 1.46.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 firm earned $4.03 EPS. Research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 0.84%. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Analyst Ratings Changes

A number of analysts have issued reports on PIPR shares. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

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.