C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $3.29 Million in Piper Sandler Companies (NYSE:PIPR)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,980 shares of the financial services provider’s stock, valued at approximately $3,293,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned approximately 0.06% of Piper Sandler Companies as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in shares of Piper Sandler Companies by 21.3% in the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after acquiring an additional 2,819 shares during the last quarter. Barclays PLC boosted its stake in Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after purchasing an additional 24,388 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Piper Sandler Companies during the 3rd quarter valued at about $624,000. Finally, Citigroup Inc. increased its stake in Piper Sandler Companies by 63.4% during the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after purchasing an additional 8,337 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

PIPR opened at $299.67 on Thursday. The company’s 50-day simple moving average is $305.98 and its two-hundred day simple moving average is $316.22. The stock has a market capitalization of $5.33 billion, a P/E ratio of 29.32 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $177.80 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 business earned $4.03 EPS. Research 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 declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 dividend yield of 0.87%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Wall Street Analysts Forecast Growth

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