Envestnet Asset Management Inc. Boosts Position in Piper Sandler Companies (NYSE:PIPR)

Envestnet Asset Management Inc. raised its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,128 shares of the financial services provider's stock after purchasing an additional 18,787 shares during the period. Envestnet Asset Management Inc. owned 0.44% of Piper Sandler Companies worth $19,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at $68,696,000. GAMMA Investing LLC boosted its stake in Piper Sandler Companies by 39,239.4% during the first quarter. GAMMA Investing LLC now owns 108,970 shares of the financial services provider's stock valued at $26,988,000 after buying an additional 108,693 shares during the period. Invesco Ltd. grew its position in Piper Sandler Companies by 17.2% during the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock worth $209,312,000 after buying an additional 102,426 shares in the last quarter. Vanguard Group Inc. increased its stake in Piper Sandler Companies by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock worth $618,974,000 after acquiring an additional 31,400 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Piper Sandler Companies in the 4th quarter valued at about $7,464,000. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analyst Weigh In

PIPR has been the topic of a number of research analyst reports. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target on the stock in a report on Thursday, July 10th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Stock Performance

NYSE PIPR traded down $1.03 during trading on Friday, hitting $312.64. 140,691 shares of the company's stock traded hands, compared to its average volume of 129,496. The business's fifty day moving average price is $269.83. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $351.80. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 27.33 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $2.85 by $1.24. The company 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%. Piper Sandler Companies's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 EPS. On average, sell-side analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared 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. The ex-dividend date was Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.83%. Piper Sandler Companies's dividend payout ratio is currently 22.73%.

Piper Sandler Companies 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.