Ameriprise Financial Inc. Has $17.59 Million Position in Piper Sandler Companies (NYSE:PIPR)

Ameriprise Financial Inc. grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,648 shares of the financial services provider's stock after buying an additional 1,867 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.33% of Piper Sandler Companies worth $17,591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Algert Global LLC raised its stake in shares of Piper Sandler Companies by 17.3% during the 4th quarter. Algert Global LLC now owns 10,916 shares of the financial services provider's stock worth $3,274,000 after purchasing an additional 1,606 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Piper Sandler Companies by 4.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock worth $418,000 after buying an additional 56 shares during the last quarter. Jane Street Group LLC raised its position in Piper Sandler Companies by 22.3% during the fourth quarter. Jane Street Group LLC now owns 11,028 shares of the financial services provider's stock worth $3,308,000 after acquiring an additional 2,010 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Piper Sandler Companies during the fourth quarter worth $124,000. Finally, Lido Advisors LLC lifted its stake in Piper Sandler Companies by 1.2% in the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock valued at $1,255,000 after acquiring an additional 49 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Trading Down 0.4%

PIPR traded down $0.99 during trading hours on Thursday, reaching $251.29. The company's stock had a trading volume of 5,904 shares, compared to its average volume of 122,328. Piper Sandler Companies has a 52 week low of $201.97 and a 52 week high of $351.80. The stock has a market cap of $4.47 billion, a PE ratio of 24.61 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $2.85 by $1.24. The firm had revenue of $357.27 million for the quarter, compared to the consensus estimate of $366.99 million. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The company's quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 earnings per share. Equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.03%. Piper Sandler Companies's dividend payout ratio is currently 22.73%.

Analyst Upgrades and Downgrades

PIPR has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their price objective 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. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

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.