New Age Alpha Advisors LLC Acquires 13,979 Shares of Piper Sandler Companies $PIPR

Key Points

• New Age Alpha Advisors LLC sharply increased its stake in Piper Sandler Companies, buying 13,979 shares in the fourth quarter and lifting its holdings by 1,783% to 14,763 shares worth about $5.0 million.
• Piper Sandler reported better-than-expected quarterly results, with EPS of $1.00 versus the $0.85 estimate and revenue of $469.5 million, up 32.7% year over year.
• The company also raised its quarterly dividend to $0.20 per share from $0.18, while analysts currently have a mixed view with an average rating of Hold and an average price target of $95.06.

New Age Alpha Advisors LLC increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 1,783.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,763 shares of the company's stock after purchasing an additional 13,979 shares during the quarter. New Age Alpha Advisors LLC owned 0.08% of Piper Sandler Companies worth $5,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. M&T Bank Corp lifted its holdings in shares of Piper Sandler Companies by 3.5% during the second quarter. M&T Bank Corp now owns 905 shares of the company's stock valued at $251,000 after purchasing an additional 31 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Piper Sandler Companies by 89.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Piper Sandler Companies by 13.4% during the second quarter. Smartleaf Asset Management LLC now owns 330 shares of the company's stock valued at $93,000 after acquiring an additional 39 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Piper Sandler Companies by 0.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,944 shares of the company's stock valued at $4,062,000 after acquiring an additional 42 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Piper Sandler Companies by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,801 shares of the company's stock valued at $1,291,000 after acquiring an additional 44 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $80.71 on Tuesday. The stock has a 50-day simple moving average of $80.72 and a two-hundred day simple moving average of $82.95. Piper Sandler Companies has a 52-week low of $61.01 and a 52-week high of $95.07. The firm has a market capitalization of $5.73 billion, a PE ratio of 20.38, a P/E/G ratio of 1.62 and a beta of 1.47.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.15. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.The business had revenue of $469.54 million during the quarter, compared to analyst estimates of $436.30 million. During the same quarter in the previous year, the company posted $4.09 earnings per share. Piper Sandler Companies's revenue for the quarter was up 32.7% on a year-over-year basis. Equities analysts forecast that Piper Sandler Companies will post 4.57 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.20 per share. This is a boost from Piper Sandler Companies's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. Piper Sandler Companies's dividend payout ratio is presently 17.68%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PIPR. Wall Street Zen cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Northland Securities upgraded Piper Sandler Companies from a "market perform" rating to an "outperform" rating and set a $87.50 price objective for the company in a research report on Wednesday, March 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Piper Sandler Companies in a research report on Wednesday, May 20th. Bank of America began coverage on Piper Sandler Companies in a research report on Monday, January 26th. They set an "underperform" rating and a $96.25 price objective for the company. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $97.00 price objective on shares of Piper Sandler Companies in a research report on Tuesday, April 14th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $95.06.

Piper Sandler Companies Profile

Piper Sandler Companies NYSE: PIPR is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.

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