BNP Paribas Financial Markets Reduces Position in Piper Sandler Companies (NYSE:PIPR)

BNP Paribas Financial Markets reduced its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 70.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,743 shares of the financial services provider's stock after selling 6,470 shares during the period. BNP Paribas Financial Markets' holdings in Piper Sandler Companies were worth $823,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Piper Sandler Companies by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock valued at $618,974,000 after acquiring an additional 31,400 shares during the last quarter. Invesco Ltd. increased its holdings in Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock valued at $209,312,000 after purchasing an additional 102,426 shares during the last quarter. Alliancebernstein L.P. raised its position in Piper Sandler Companies by 2.3% in the fourth quarter. Alliancebernstein L.P. now owns 360,224 shares of the financial services provider's stock valued at $108,049,000 after purchasing an additional 8,066 shares during the period. Norges Bank acquired a new position in Piper Sandler Companies during the fourth quarter worth $68,696,000. Finally, Stephens Investment Management Group LLC lifted its stake in Piper Sandler Companies by 3.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider's stock worth $64,355,000 after purchasing an additional 6,970 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 PIPR stock traded up $7.17 during trading on Tuesday, reaching $256.57. The company's stock had a trading volume of 97,397 shares, compared to its average volume of 123,539. Piper Sandler Companies has a 1-year low of $201.97 and a 1-year high of $351.80. The stock has a market capitalization of $4.56 billion, a P/E ratio of 25.10 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $366.99 million. During the same quarter last year, the company posted $2.79 EPS. The firm's revenue was up 14.7% compared to the same quarter last year. On average, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.01%. Piper Sandler Companies's payout ratio is 22.73%.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on 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. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

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.