Piper Sandler Companies (NYSE:PIPR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 14.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,647 shares of the financial services provider's stock after selling 2,190 shares during the period. Cerity Partners LLC owned about 0.07% of Piper Sandler Companies worth $3,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PIPR. MassMutual Private Wealth & Trust FSB boosted its position in 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 period. von Borstel & Associates Inc. purchased a new stake in Piper Sandler Companies during the first quarter valued at about $27,000. Park Square Financial Group LLC purchased a new stake in Piper Sandler Companies during the fourth quarter valued at about $45,000. Lazard Asset Management LLC purchased a new stake in Piper Sandler Companies during the fourth quarter valued at about $51,000. Finally, Parallel Advisors LLC boosted its position in Piper Sandler Companies by 28.6% during the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock valued at $53,000 after buying an additional 48 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PIPR has been the subject of a number of research reports. Wolfe Research raised shares of 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 note on Thursday, July 10th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Price Performance

Shares of PIPR stock traded down $1.03 during trading hours on Friday, reaching $312.64. 141,627 shares of the stock were exchanged, compared to its average volume of 128,674. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $351.80. The stock's 50-day moving average is $271.06. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 27.33 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 firm had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. During the same quarter in the prior year, the company earned $2.79 EPS. The company's revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders 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 dividend on an annualized basis and a yield of 0.83%. Piper Sandler Companies's payout ratio is 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.