Cibc World Markets Corp Buys New Holdings in Piper Sandler Companies (NYSE:PIPR)

Cibc World Markets Corp acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,624 shares of the financial services provider’s stock, valued at approximately $487,000.

Several other hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its stake in shares of Piper Sandler Companies by 10.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,805 shares of the financial services provider’s stock valued at $541,000 after buying an additional 176 shares in the last quarter. Vestcor Inc boosted its holdings in Piper Sandler Companies by 25.9% in the fourth quarter. Vestcor Inc now owns 5,713 shares of the financial services provider’s stock valued at $1,714,000 after acquiring an additional 1,176 shares during the last quarter. Swiss National Bank boosted its holdings in Piper Sandler Companies by 0.6% in the fourth quarter. Swiss National Bank now owns 34,800 shares of the financial services provider’s stock valued at $10,438,000 after acquiring an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Piper Sandler Companies by 30.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 87 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Piper Sandler Companies by 9.2% in the fourth quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 211 shares during the last quarter. 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 recent analyst 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 cut their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Stock Up 0.8 %

NYSE:PIPR opened at $259.10 on Friday. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 25.35 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80. The stock’s 50 day moving average price is $271.07 and its two-hundred day moving average price is $292.71.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate 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 business posted $4.03 EPS. As a group, analysts anticipate 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 was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.00%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 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.