Piper Sandler Companies (NYSE:PIPR) Stake Lessened by Rhumbline Advisers

Rhumbline Advisers cut its stake in Piper Sandler Companies (NYSE:PIPR) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,142 shares of the financial services provider’s stock after selling 974 shares during the period. Rhumbline Advisers’ holdings in Piper Sandler Companies were worth $14,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PIPR. West Oak Capital LLC boosted its holdings in shares of Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,300 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after buying an additional 60 shares in the last quarter. CWM LLC boosted its holdings in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 shares in the last quarter. KBC Group NV boosted its holdings in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after buying an additional 545 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $287.97 on Friday. The company has a market cap of $5.12 billion, a PE ratio of 28.18 and a beta of 1.46. Piper Sandler Companies has a 52 week low of $183.25 and a 52 week high of $351.80. The firm has a 50 day simple moving average of $308.16 and a 200 day simple moving average of $313.05.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS 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 in the prior year, the firm posted $4.03 earnings per share. On average, equities analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Wall Street Analyst Weigh In

PIPR has been the subject of a number of research reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group raised their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report 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.