Cerity Partners LLC Has $4.21 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Cerity Partners LLC reduced its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,837 shares of the financial services provider's stock after selling 1,223 shares during the period. Cerity Partners LLC owned approximately 0.08% of Piper Sandler Companies worth $4,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its position in shares of Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 131 shares during the period. Allworth Financial LP grew its stake in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC increased its holdings in shares of Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after acquiring an additional 60 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Piper Sandler Companies by 336.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock worth $94,000 after purchasing an additional 242 shares during the period. Finally, Principal Securities Inc. lifted its holdings in shares of Piper Sandler Companies by 280.9% during the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock valued at $102,000 after purchasing an additional 250 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PIPR has been the topic of several research analyst reports. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group cut 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 report on Friday, March 14th. Finally, StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Stock Up 0.6 %

Shares of PIPR stock traded up $1.41 during trading on Friday, reaching $224.81. The company's stock had a trading volume of 109,100 shares, compared to its average volume of 117,699. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 22.00 and a beta of 1.38. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The business has a fifty day moving average price of $239.35 and a 200-day moving average price of $273.83.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping analysts' consensus estimates 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 in the prior year, the business posted $4.03 earnings per share. Research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid 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 dividend payout ratio is currently 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.