Brevan Howard Capital Management LP raised its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 139.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,746 shares of the financial services provider's stock after buying an additional 1,601 shares during the period. Brevan Howard Capital Management LP's holdings in Piper Sandler Companies were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Captrust Financial Advisors lifted its stake in shares of Piper Sandler Companies by 31.9% in the fourth quarter. Captrust Financial Advisors now owns 3,100 shares of the financial services provider's stock valued at $930,000 after buying an additional 749 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Piper Sandler Companies by 140.2% in the fourth quarter. Baird Financial Group Inc. now owns 711 shares of the financial services provider's stock valued at $213,000 after buying an additional 415 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Piper Sandler Companies by 3.3% in the fourth quarter. Ameriprise Financial Inc. now owns 58,648 shares of the financial services provider's stock valued at $17,591,000 after buying an additional 1,867 shares in the last quarter. Algert Global LLC lifted its stake in shares of Piper Sandler Companies by 17.3% in the fourth quarter. Algert Global LLC now owns 10,916 shares of the financial services provider's stock valued at $3,274,000 after buying an additional 1,606 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Piper Sandler Companies by 4.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock valued at $418,000 after buying an additional 56 shares in the last quarter. 72.79% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. 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 report on Friday, March 14th.
Get Our Latest Analysis on PIPR
Piper Sandler Companies Price Performance
Shares of PIPR traded up $0.34 during trading hours on Wednesday, reaching $267.83. 43,965 shares of the stock traded hands, compared to its average volume of 120,829. Piper Sandler Companies has a 52 week low of $201.97 and a 52 week high of $351.80. The firm has a market capitalization of $4.76 billion, a P/E ratio of 26.21 and a beta of 1.50.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $2.85 by $1.24. The business had revenue of $357.27 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 earnings per share. On average, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.
Piper Sandler Companies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, May 30th. Piper Sandler Companies's dividend payout ratio is 22.73%.
Piper Sandler Companies Profile
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Free Report)
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.
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