Mesirow Institutional Investment Management Inc. Sells 2,906 Shares of Piper Sandler Companies (NYSE:PIPR)

Mesirow Institutional Investment Management Inc. trimmed its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 7.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 36,358 shares of the financial services provider’s stock after selling 2,906 shares during the quarter. Mesirow Institutional Investment Management Inc.’s holdings in Piper Sandler Companies were worth $10,906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PIPR. MML Investors Services LLC increased its holdings in shares of Piper Sandler Companies by 4.3% during the third quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock worth $508,000 after buying an additional 74 shares in the last quarter. Barclays PLC increased its holdings 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. Tidal Investments LLC raised its position in Piper Sandler Companies by 75.7% in the third quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock valued at $1,732,000 after purchasing an additional 2,629 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Piper Sandler Companies by 27.6% during 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 in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Piper Sandler Companies during the fourth quarter worth about $404,000. Institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $224.81 on Friday. Piper Sandler Companies has a one year low of $184.91 and a one year high of $351.80. The business’s 50 day simple moving average is $238.24 and its 200 day simple moving average is $272.60. The stock has a market capitalization of $3.99 billion, a PE ratio of 22.00 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 quarter last year, the company earned $4.03 EPS. As a group, research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 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.