Piper Sandler Companies (NYSE:PIPR) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 34.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,635 shares of the financial services provider's stock after buying an additional 23,860 shares during the period. Millennium Management LLC owned approximately 0.53% of Piper Sandler Companies worth $28,086,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. Quadrant Capital Group LLC grew its holdings in shares of Piper Sandler Companies by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock worth $226,000 after purchasing an additional 37 shares during the last quarter. Arizona State Retirement System lifted its stake in 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 buying an additional 40 shares during the last quarter. Lido Advisors LLC grew its position in shares of Piper Sandler Companies by 1.2% during the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock worth $1,255,000 after acquiring an additional 49 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock valued at $418,000 after acquiring an additional 56 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Piper Sandler Companies by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider's stock valued at $545,000 after acquiring an additional 85 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group decreased their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research report on Friday, March 14th.

Piper Sandler Companies Price Performance

NYSE PIPR opened at $266.91 on Tuesday. The stock has a market cap of $4.74 billion, a P/E ratio of 26.12 and a beta of 1.50. Piper Sandler Companies has a 52-week low of $201.97 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $2.85 by $1.24. The company 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%. The business's revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 EPS. As a group, sell-side analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.97%. Piper Sandler Companies's payout ratio is 22.73%.

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.

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