Pinebridge Investments L.P. Invests $2.51 Million in Piper Sandler Companies (NYSE:PIPR)

Pinebridge Investments L.P. purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,377 shares of the financial services provider’s stock, valued at approximately $2,513,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its position in Piper Sandler Companies by 132.7% in the fourth quarter. Hsbc Holdings PLC now owns 6,782 shares of the financial services provider’s stock worth $2,029,000 after purchasing an additional 3,868 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Piper Sandler Companies by 227.0% during the 4th quarter. Stifel Financial Corp now owns 2,619 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 1,818 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Piper Sandler Companies by 54.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,366 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 481 shares during the period. MML Investors Services LLC grew its position in Piper Sandler Companies by 113.0% during the fourth quarter. MML Investors Services LLC now owns 3,813 shares of the financial services provider’s stock valued at $1,144,000 after buying an additional 2,023 shares during the period. Finally, MetLife Investment Management LLC grew its position in Piper Sandler Companies by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 10,447 shares of the financial services provider’s stock valued at $3,134,000 after buying an additional 588 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Trading Up 0.6 %

Shares of Piper Sandler Companies stock opened at $237.72 on Friday. Piper Sandler Companies has a 12-month low of $195.29 and a 12-month high of $351.80. The stock has a market capitalization of $4.22 billion, a PE ratio of 23.26 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (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 period in the previous year, the firm posted $4.03 EPS. On average, analysts anticipate 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 given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.09%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 25.44%.

About Piper Sandler Companies

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.