GAMMA Investing LLC raised its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 39,239.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,970 shares of the financial services provider's stock after acquiring an additional 108,693 shares during the period. GAMMA Investing LLC owned 0.61% of Piper Sandler Companies worth $26,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in Piper Sandler Companies in the fourth quarter valued at about $68,696,000. Invesco Ltd. boosted 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 valued at $209,312,000 after purchasing an additional 102,426 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Piper Sandler Companies by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock valued at $618,974,000 after acquiring an additional 31,400 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Piper Sandler Companies during the 4th quarter valued at $8,097,000. Finally, Raymond James Financial Inc. purchased a new stake in Piper Sandler Companies during the 4th quarter worth $7,464,000. Institutional investors and hedge funds own 72.79% of the company's stock.
Piper Sandler Companies Stock Performance
Shares of NYSE PIPR traded up $7.14 during midday trading on Friday, reaching $264.14. 93,328 shares of the company traded hands, compared to its average volume of 124,989. The stock has a market cap of $4.69 billion, a PE ratio of 25.85 and a beta of 1.47. Piper Sandler Companies has a 12 month low of $201.97 and a 12 month high of $351.80.
Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $1.24. The company had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The firm's revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.
Piper Sandler Companies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, May 30th. Piper Sandler Companies's dividend payout ratio is 22.73%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on PIPR. 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. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.
Get Our Latest Research Report on PIPR
Piper Sandler Companies Profile
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Free Report)
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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