Banque Pictet & Cie SA Makes New Investment in Piper Sandler Companies (NYSE:PIPR)

Banque Pictet & Cie SA purchased a new stake in Piper Sandler Companies (NYSE:PIPR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,798 shares of the financial services provider's stock, valued at approximately $445,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. M&T Bank Corp raised its position in shares of Piper Sandler Companies by 6.6% during the first quarter. M&T Bank Corp now owns 874 shares of the financial services provider's stock worth $217,000 after purchasing an additional 54 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Piper Sandler Companies by 31.7% during the first quarter. Envestnet Asset Management Inc. now owns 78,128 shares of the financial services provider's stock worth $19,349,000 after purchasing an additional 18,787 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Piper Sandler Companies during the first quarter worth approximately $86,000. Bank of New York Mellon Corp raised its position in shares of Piper Sandler Companies by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 156,751 shares of the financial services provider's stock worth $38,821,000 after purchasing an additional 992 shares during the period. Finally, von Borstel & Associates Inc. acquired a new position in shares of Piper Sandler Companies during the first quarter worth approximately $27,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

NYSE:PIPR traded down $1.14 during trading on Friday, reaching $301.48. The company's stock had a trading volume of 189,226 shares, compared to its average volume of 129,582. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 26.35 and a beta of 1.48. The company has a 50 day simple moving average of $265.33. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $366.99 million. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.79 EPS. Equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. Piper Sandler Companies's payout ratio is 22.73%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PIPR. Wolfe Research raised Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target for the company in a research report on Thursday. The Goldman Sachs Group lowered their price target on 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. Finally, JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

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.