Sage Rhino Capital LLC Takes Position in Piper Sandler Companies (NYSE:PIPR)

Sage Rhino Capital LLC acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, Holdings Channel.com reports. The firm acquired 682 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also added to or reduced their stakes in PIPR. Bailard Inc. acquired a new position in Piper Sandler Companies in the fourth quarter valued at about $260,000. Smartleaf Asset Management LLC lifted its holdings in shares of Piper Sandler Companies by 336.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 242 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Piper Sandler Companies by 7.3% in the 4th quarter. Fisher Asset Management LLC now owns 155,909 shares of the financial services provider’s stock valued at $46,765,000 after purchasing an additional 10,588 shares during the period. Proficio Capital Partners LLC bought a new stake in Piper Sandler Companies during the 4th quarter worth approximately $8,097,000. Finally, Illinois Municipal Retirement Fund raised its holdings in Piper Sandler Companies by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,935 shares of the financial services provider’s stock worth $2,680,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Down 2.4 %

NYSE:PIPR opened at $282.73 on Tuesday. Piper Sandler Companies has a twelve month low of $183.57 and a twelve month high of $351.80. The company has a market cap of $5.03 billion, a P/E ratio of 27.66 and a beta of 1.46. The business has a 50 day moving average price of $302.42 and a two-hundred day moving average price of $308.43.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping 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 quarter in the previous year, the business earned $4.03 earnings per share. As a group, analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

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.