Cambridge Investment Research Advisors Inc. Takes $215,000 Position in Piper Sandler Companies (NYSE:PIPR)

Cambridge Investment Research Advisors Inc. acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 868 shares of the financial services provider's stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PIPR. GAMMA Investing LLC boosted its position in Piper Sandler Companies by 58.8% during the first quarter. GAMMA Investing LLC now owns 440 shares of the financial services provider's stock worth $109,000 after purchasing an additional 163 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Piper Sandler Companies by 11.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,015 shares of the financial services provider's stock worth $499,000 after purchasing an additional 210 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Piper Sandler Companies by 11.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,742 shares of the financial services provider's stock worth $2,908,000 after purchasing an additional 1,249 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Piper Sandler Companies during the fourth quarter worth $8,097,000. Finally, HighTower Advisors LLC boosted its position in Piper Sandler Companies by 9.2% during the fourth quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider's stock worth $749,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR traded up $7.29 on Thursday, hitting $314.55. The company had a trading volume of 200,494 shares, compared to its average volume of 129,451. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $351.80. The business has a 50 day moving average of $269.83. The firm has a market capitalization of $5.59 billion, a P/E ratio of 27.50 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $357.27 million for the quarter, compared to the consensus estimate of $366.99 million. During the same period in the prior year, the business earned $2.79 earnings per share. The business's revenue was up 14.7% on a year-over-year basis. On average, research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.65 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. Piper Sandler Companies's dividend payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

A number of analysts have commented on PIPR shares. Wolfe Research upgraded Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 target price on the stock in a research report on Thursday, July 10th. JMP Securities reiterated 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.