Allspring Global Investments Holdings LLC Has $10.09 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 42.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 40,114 shares of the financial services provider's stock after purchasing an additional 11,984 shares during the period. Allspring Global Investments Holdings LLC owned 0.23% of Piper Sandler Companies worth $10,091,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings 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 worth $27,000 after purchasing an additional 62 shares during the period. IFP Advisors Inc boosted its holdings in shares of Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after acquiring an additional 131 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Piper Sandler Companies during the fourth quarter worth approximately $45,000. Lazard Asset Management LLC bought a new stake in shares of Piper Sandler Companies during the fourth quarter worth approximately $51,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 28.6% during the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock worth $53,000 after acquiring an additional 48 shares during the period. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR traded up $0.47 during trading on Friday, reaching $293.44. 91,181 shares of the stock were exchanged, compared to its average volume of 128,574. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $351.80. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 25.65 and a beta of 1.48. The company's 50-day moving average is $260.34.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $1.24. The business had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 earnings per share. On average, analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is currently 22.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group reduced their price objective 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.

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.