Calamos Advisors LLC Sells 8,240 Shares of Piper Sandler Companies (NYSE:PIPR)

Calamos Advisors LLC reduced its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 77.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,441 shares of the financial services provider's stock after selling 8,240 shares during the quarter. Calamos Advisors LLC's holdings in Piper Sandler Companies were worth $605,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PIPR. MassMutual Private Wealth & Trust FSB boosted its position in shares of 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 acquiring an additional 62 shares during the period. Park Square Financial Group LLC bought a new position in shares of Piper Sandler Companies in the fourth quarter valued at approximately $45,000. Lazard Asset Management LLC bought a new position in shares of Piper Sandler Companies in the fourth quarter valued at approximately $51,000. Parallel Advisors LLC boosted its position in shares of 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 acquiring an additional 48 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Piper Sandler Companies by 1,195.2% in the first quarter. Versant Capital Management Inc now owns 272 shares of the financial services provider's stock valued at $67,000 after acquiring an additional 251 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of analyst reports. Wolfe Research upgraded 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. The Goldman Sachs Group dropped their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Stock Up 4.4%

Shares of PIPR stock traded up $12.77 on Thursday, hitting $302.55. 288,908 shares of the company's stock traded hands, compared to its average volume of 129,316. Piper Sandler Companies has a one year low of $202.91 and a one year high of $351.80. The firm's fifty day moving average is $263.13. The stock has a market cap of $5.38 billion, a PE ratio of 26.45 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The company had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. During the same quarter last year, the firm earned $2.79 EPS. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is presently 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.