Private Client Services LLC Purchases Shares of 3,554 Piper Sandler Companies (NYSE:PIPR)

Private Client Services LLC purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,554 shares of the financial services provider's stock, valued at approximately $880,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in Piper Sandler Companies by 131.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after buying an additional 62 shares during the last quarter. IFP Advisors Inc lifted its position in Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after buying an additional 131 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at about $45,000. Lazard Asset Management LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at about $51,000. Finally, Parallel Advisors LLC lifted its position in Piper Sandler Companies by 28.6% in the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock valued at $53,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Piper Sandler Companies Price Performance

NYSE:PIPR traded down $1.60 on Friday, reaching $251.36. 134,702 shares of the company's stock were exchanged, compared to its average volume of 123,964. The firm has a market capitalization of $4.47 billion, a PE ratio of 24.59 and a beta of 1.50. Piper Sandler Companies has a 52-week low of $201.97 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $1.24. The company 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 business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 earnings per share. Analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.03%. Piper Sandler Companies's payout ratio is 22.73%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group cut 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 note on Friday, March 14th.

Piper Sandler Companies Company 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.