1,798 Shares in Piper Sandler Companies (NYSE:PIPR) Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA acquired a new stake in Piper Sandler Companies (NYSE:PIPR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,798 shares of the financial services provider's stock, valued at approximately $445,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in Piper Sandler Companies by 131.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 62 shares during the period. von Borstel & Associates Inc. acquired a new stake in Piper Sandler Companies during the 1st quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new stake in Piper Sandler Companies during the 4th quarter valued at approximately $45,000. Lazard Asset Management LLC acquired a new stake in shares of Piper Sandler Companies during the 4th quarter worth approximately $51,000. Finally, Parallel Advisors LLC grew its position in shares of Piper Sandler Companies by 28.6% during the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock worth $53,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 72.79% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price objective for the company in a research report on Thursday. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Piper Sandler Companies Stock Performance

NYSE:PIPR traded up $3.18 during trading hours on Monday, hitting $305.47. 123,717 shares of the company traded hands, compared to its average volume of 129,360. The business's 50-day simple moving average is $265.33. Piper Sandler Companies has a one year low of $202.91 and a one year high of $351.80. The firm has a market cap of $5.43 billion, a P/E ratio of 26.70 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The firm had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. During the same period last year, the firm posted $2.79 EPS. The business's revenue was up 14.7% compared to the same quarter last year. On average, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's payout ratio is presently 22.73%.

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.