Allspring Global Investments Holdings LLC Purchases 11,984 Shares of Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC raised its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 42.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,114 shares of the financial services provider's stock after buying an additional 11,984 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.23% of Piper Sandler Companies worth $10,091,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its holdings in Piper Sandler Companies by 131.9% during the 1st 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 in the last quarter. IFP Advisors Inc grew its holdings in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after buying an additional 131 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Piper Sandler Companies during the 4th quarter valued at approximately $45,000. Lazard Asset Management LLC purchased a new position in Piper Sandler Companies during the 4th quarter valued at approximately $51,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 28.6% in the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock worth $53,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Trading Down 1.7%

Shares of Piper Sandler Companies stock traded down $4.86 on Monday, reaching $288.58. The company had a trading volume of 138,605 shares, compared to its average volume of 128,614. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 25.23 and a beta of 1.48. The firm's 50-day simple moving average is $261.33. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The company had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. During the same quarter in the previous year, the business earned $2.79 EPS. Piper Sandler Companies's revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, May 30th. Piper Sandler Companies's payout ratio is currently 22.73%.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of recent research reports. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group dropped their target price on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th.

About Piper Sandler Companies

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.