Piper Sandler Companies (NYSE:PIPR) Shares Purchased by Vestcor Inc

Vestcor Inc boosted its holdings in Piper Sandler Companies (NYSE:PIPR) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,713 shares of the financial services provider’s stock after acquiring an additional 1,176 shares during the period. Vestcor Inc’s holdings in Piper Sandler Companies were worth $1,714,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PIPR. IFP Advisors Inc raised its position in Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 131 shares during the period. West Oak Capital LLC raised its position in 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 purchasing an additional 1,300 shares during the period. Allworth Financial LP raised its position in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC raised its position in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Piper Sandler Companies by 336.1% in the fourth 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 during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PIPR has been the topic of a number of research analyst reports. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut their target price on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Trading Up 0.8 %

Piper Sandler Companies stock opened at $254.06 on Friday. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80. The stock’s fifty day simple moving average is $280.51 and its 200-day simple moving average is $298.05. The firm has a market capitalization of $4.50 billion, a P/E ratio of 24.86 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the company earned $4.03 EPS. Sell-side analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Piper Sandler Companies 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.