Piper Sandler Companies (NYSE:PIPR) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 39,239.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,970 shares of the financial services provider's stock after buying an additional 108,693 shares during the quarter. GAMMA Investing LLC owned approximately 0.61% of Piper Sandler Companies worth $26,988,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in Piper Sandler Companies by 131.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. IFP Advisors Inc boosted its stake 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 during the period. Park Square Financial Group LLC purchased a new position in shares of Piper Sandler Companies in the fourth quarter valued at approximately $45,000. Lazard Asset Management LLC acquired a new position in shares of Piper Sandler Companies in the fourth quarter valued at approximately $51,000. Finally, Versant Capital Management Inc increased its stake in Piper Sandler Companies by 1,195.2% during the 1st quarter. Versant Capital Management Inc now owns 272 shares of the financial services provider's stock worth $67,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 72.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reduced 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 report on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Stock Performance

Shares of PIPR traded up $7.14 during midday trading on Friday, hitting $264.14. The company had a trading volume of 93,328 shares, compared to its average volume of 124,442. Piper Sandler Companies has a 1 year low of $201.97 and a 1 year high of $351.80. The stock has a market capitalization of $4.69 billion, a PE ratio of 25.85 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $357.27 million for the quarter, compared to analysts' expectations of $366.99 million. During the same quarter last year, the company earned $2.79 earnings per share. The firm's revenue was up 14.7% compared to the same quarter last year. Analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.65 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.98%. Piper Sandler Companies's payout ratio is 22.73%.

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.