Private Client Services LLC Takes $880,000 Position in Piper Sandler Companies (NYSE:PIPR)

Private Client Services LLC acquired a new position in Piper Sandler Companies (NYSE:PIPR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,554 shares of the financial services provider's stock, valued at approximately $880,000.

Other large investors have also recently modified their holdings of the company. Barclays PLC grew its stake 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 worth $9,174,000 after purchasing an additional 24,388 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 51.3% in the fourth quarter. Blue Trust Inc. now owns 994 shares of the financial services provider's stock worth $282,000 after purchasing an additional 337 shares during the last quarter. KBC Group NV grew its stake in shares of Piper Sandler Companies by 39.6% in the fourth quarter. KBC Group NV now owns 768 shares of the financial services provider's stock worth $230,000 after purchasing an additional 218 shares during the last quarter. Precision Wealth Strategies LLC bought a new stake in shares of Piper Sandler Companies in the fourth quarter worth about $407,000. Finally, Trust Point Inc. bought a new stake in shares of Piper Sandler Companies in the fourth quarter worth about $225,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PIPR. The Goldman Sachs Group cut their target price on 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 note on Monday, May 5th.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock traded up $5.74 during trading hours on Tuesday, hitting $256.48. 31,598 shares of the stock traded hands, compared to its average volume of 134,140. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 25.10 and a beta of 1.50. Piper Sandler Companies has a one year low of $201.97 and a one year high of $351.80.

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

Piper Sandler Companies Dividend Announcement

The company 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 dividend of $0.65 per share. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.01%. Piper Sandler Companies's payout ratio is 22.73%.

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.