GW&K Investment Management LLC Trims Stock Position in Piper Sandler Companies (NYSE:PIPR)

GW&K Investment Management LLC decreased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 320,863 shares of the financial services provider’s stock after selling 63,148 shares during the quarter. Piper Sandler Companies makes up about 0.8% of GW&K Investment Management LLC’s holdings, making the stock its 16th largest position. GW&K Investment Management LLC owned 1.80% of Piper Sandler Companies worth $96,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC boosted its position in shares of Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after purchasing an additional 2,819 shares during the period. Barclays PLC boosted its holdings in shares of Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after acquiring an additional 24,388 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at $624,000. Finally, Citigroup Inc. increased its holdings in shares of Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after acquiring an additional 8,337 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR opened at $281.29 on Friday. The stock has a fifty day moving average price of $303.87 and a 200 day moving average price of $310.30. Piper Sandler Companies has a 1-year low of $183.57 and a 1-year high of $351.80. The company has a market cap of $5.00 billion, a PE ratio of 27.52 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released 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 period in the previous year, the firm posted $4.03 earnings per share. Analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Wall Street Analysts Forecast Growth

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

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.