Harbor Capital Advisors Inc. Raises Stock Position in Piper Sandler Companies (NYSE:PIPR)

Harbor Capital Advisors Inc. raised its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 43.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,545 shares of the financial services provider's stock after buying an additional 1,981 shares during the quarter. 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 institutional investors have also recently bought and sold shares of PIPR. Van ECK Associates Corp bought a new stake in shares of Piper Sandler Companies during the 4th quarter worth about $4,275,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Piper Sandler Companies in the 4th quarter valued at about $3,293,000. Vicus Capital acquired a new position in shares of Piper Sandler Companies in the 4th quarter valued at approximately $207,000. Principal Securities Inc. raised its position in shares of Piper Sandler Companies by 280.9% in the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock valued at $102,000 after buying an additional 250 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after buying an additional 160 shares in the last quarter. Institutional investors own 72.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group cut their target price on shares of 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.

Piper Sandler Companies Stock Up 1.4%

Shares of PIPR traded up $3.61 during trading hours on Monday, hitting $255.47. The company's stock had a trading volume of 76,129 shares, compared to its average volume of 126,053. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $351.80. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 25.00 and a beta of 1.47.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $366.99 million. During the same period last year, the business earned $2.79 earnings per share. Piper Sandler Companies's revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.02%. Piper Sandler Companies's payout ratio is presently 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.