Piper Sandler Companies (NYSE:PIPR) Holdings Cut by Man Group plc

Man Group plc trimmed its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 34.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,915 shares of the financial services provider's stock after selling 1,514 shares during the period. Man Group plc's holdings in Piper Sandler Companies were worth $874,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock worth $9,174,000 after buying an additional 24,388 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock worth $94,000 after purchasing an additional 242 shares during the period. IFP Advisors Inc boosted its stake in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after purchasing an additional 131 shares during the period. Arizona State Retirement System boosted its stake in Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock worth $1,541,000 after purchasing an additional 40 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Piper Sandler Companies in the 4th quarter worth approximately $8,097,000. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock traded up $0.47 during midday trading on Thursday, reaching $251.73. The stock had a trading volume of 12,251 shares, compared to its average volume of 134,599. Piper Sandler Companies has a twelve month low of $201.97 and a twelve month high of $351.80. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.63 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The company had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. During the same quarter in the prior year, the firm earned $2.79 EPS. The company's revenue was up 14.7% compared to the same quarter last year. Equities analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a yield of 1.03%. Piper Sandler Companies's payout ratio is 22.73%.

Analysts Set New Price Targets

PIPR has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th. The Goldman Sachs Group decreased 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 research note on Friday, March 14th.

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.