Piper Sandler Companies (NYSE:PIPR) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,560 shares of the financial services provider's stock after selling 36,258 shares during the period. Nuveen Asset Management LLC owned 1.09% of Piper Sandler Companies worth $58,358,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PIPR. IFP Advisors Inc grew its stake in shares of Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after buying an additional 131 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Piper Sandler Companies in the 4th quarter valued at approximately $51,000. Allworth Financial LP grew its stake 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 during the period. Smartleaf Asset Management LLC grew its stake in shares of Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after buying an additional 242 shares during the period. Finally, Principal Securities Inc. grew its stake 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 during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. 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 note on Friday, March 14th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $267.47 on Monday. Piper Sandler Companies has a 1-year low of $201.97 and a 1-year high of $351.80. The firm has a market capitalization of $4.75 billion, a P/E ratio of 26.17 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping 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 business had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. During the same period in the previous year, the business posted $2.79 earnings per share. The business's revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 annualized dividend and a yield of 0.97%. Piper Sandler Companies's payout ratio is currently 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.

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