Aurdan Capital Management LLC Buys Shares of 5,546 Piper Sandler Companies (NYSE:PIPR)

Aurdan Capital Management LLC bought a new position in Piper Sandler Companies (NYSE:PIPR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 5,546 shares of the financial services provider's stock, valued at approximately $1,664,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PIPR. IFP Advisors Inc grew its stake in shares of 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 worth $43,000 after acquiring an additional 131 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Piper Sandler Companies in the fourth quarter worth approximately $51,000. Allworth Financial LP grew its position in Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after buying an additional 160 shares during the period. Smartleaf Asset Management LLC grew its position in 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 valued at $94,000 after buying an additional 242 shares during the period. Finally, Principal Securities Inc. grew its position in Piper Sandler Companies by 280.9% during the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock valued at $102,000 after buying an additional 250 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 0.7%

Shares of Piper Sandler Companies stock traded down $1.79 during midday trading on Friday, hitting $250.53. The company had a trading volume of 24,389 shares, compared to its average volume of 123,507. The firm has a market capitalization of $4.45 billion, a P/E ratio of 24.46 and a beta of 1.50. Piper Sandler Companies has a 12-month low of $201.97 and a 12-month 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 for the quarter, topping the consensus estimate of $2.85 by $1.24. The company 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%. Piper Sandler Companies's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. As a group, research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 1.04%. Piper Sandler Companies's dividend payout ratio is presently 22.73%.

Wall Street Analyst Weigh In

PIPR has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

Piper Sandler Companies 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.