Harbor Capital Advisors Inc. Boosts Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Harbor Capital Advisors Inc. raised its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 43.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,545 shares of the financial services provider's stock after purchasing an additional 1,981 shares during the period. Harbor Capital Advisors Inc.'s holdings in Piper Sandler Companies were worth $1,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 242 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 131 shares in the last quarter. Arizona State Retirement System grew its position in shares of Piper Sandler Companies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock valued at $1,541,000 after purchasing an additional 40 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Piper Sandler Companies in the fourth quarter valued at approximately $8,097,000. Finally, HighTower Advisors LLC increased its stake in shares of Piper Sandler Companies by 9.2% during the 4th quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider's stock worth $749,000 after purchasing an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock traded down $6.31 during mid-day trading on Friday, hitting $252.02. 106,583 shares of the stock were exchanged, compared to its average volume of 125,721. The stock has a market capitalization of $4.48 billion, a P/E ratio of 24.66 and a beta of 1.47. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $1.24. The firm had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. Piper Sandler Companies's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 earnings per share. As a group, analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm 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 $0.65 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.03%. Piper Sandler Companies's payout ratio is currently 22.73%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PIPR shares. The Goldman Sachs Group reduced their target price on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research 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.