Wealth Enhancement Advisory Services LLC Increases Stake in Piper Sandler Companies (NYSE:PIPR)

Wealth Enhancement Advisory Services LLC increased its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,742 shares of the financial services provider's stock after buying an additional 1,249 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.07% of Piper Sandler Companies worth $2,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Piper Sandler Companies by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock valued at $618,974,000 after purchasing an additional 31,400 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock worth $209,312,000 after purchasing an additional 102,426 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Piper Sandler Companies by 2.3% during the fourth quarter. Alliancebernstein L.P. now owns 360,224 shares of the financial services provider's stock valued at $108,049,000 after purchasing an additional 8,066 shares in the last quarter. Norges Bank purchased a new position in Piper Sandler Companies in the 4th quarter worth about $68,696,000. Finally, Northern Trust Corp boosted its holdings in shares of Piper Sandler Companies by 9.4% during the 4th quarter. Northern Trust Corp now owns 200,005 shares of the financial services provider's stock valued at $59,991,000 after acquiring an additional 17,120 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR stock traded down $1.98 on Monday, reaching $279.84. The company's stock had a trading volume of 176,352 shares, compared to its average volume of 127,292. The stock's fifty day simple moving average is $255.14. Piper Sandler Companies has a 1 year low of $100.55 and a 1 year high of $351.80. The stock has a market capitalization of $4.97 billion, a P/E ratio of 24.47 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $1.24. The company had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is presently 22.73%.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of recent research reports. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group dropped their price target on shares of 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.

About Piper Sandler Companies

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.