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

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

Several other institutional investors have also recently modified their holdings of PIPR. MassMutual Private Wealth & Trust FSB grew its stake in shares of Piper Sandler Companies by 131.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after buying an additional 62 shares during the last quarter. Park Square Financial Group LLC bought a new position in Piper Sandler Companies in the fourth quarter worth about $45,000. Lazard Asset Management LLC bought a new stake in Piper Sandler Companies during the 4th quarter valued at approximately $51,000. Parallel Advisors LLC grew its holdings 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 acquiring an additional 48 shares during the period. Finally, Wood Tarver Financial Group LLC purchased a new stake in Piper Sandler Companies during the 4th quarter valued at $73,000. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Down 2.6%

NYSE PIPR traded down $7.90 during trading on Tuesday, hitting $297.65. 103,974 shares of the stock traded hands, compared to its average volume of 129,076. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $351.80. The company has a 50-day moving average of $267.51. The firm has a market capitalization of $5.29 billion, a P/E ratio of 26.02 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced 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. 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 analysts' expectations of $366.99 million. During the same quarter in the previous year, the business posted $2.79 earnings per share. Piper Sandler Companies's quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts forecast that Piper Sandler Companies will post 14.14 EPS 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. Stockholders of record on Friday, May 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is 22.73%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PIPR shares. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. 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 note on Thursday, July 10th.

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.