Lisanti Capital Growth LLC Purchases 4,730 Shares of Piper Sandler Companies (NYSE:PIPR)

Lisanti Capital Growth LLC raised its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 37.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,300 shares of the financial services provider's stock after buying an additional 4,730 shares during the period. Lisanti Capital Growth LLC owned 0.10% of Piper Sandler Companies worth $4,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PIPR. Vanguard Group Inc. increased its position in 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 purchasing an additional 31,400 shares during the period. Invesco Ltd. grew its holdings in Piper Sandler Companies by 17.2% during the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock worth $209,312,000 after acquiring an additional 102,426 shares during the period. Alliancebernstein L.P. raised its position in shares of Piper Sandler Companies by 2.3% in the 4th quarter. Alliancebernstein L.P. now owns 360,224 shares of the financial services provider's stock worth $108,049,000 after acquiring an additional 8,066 shares in the last quarter. Norges Bank acquired a new position in shares of Piper Sandler Companies in the 4th quarter valued at about $68,696,000. Finally, Northern Trust Corp boosted its position 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 purchasing an additional 17,120 shares in the last quarter. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Trading Down 1.1%

PIPR stock traded down $2.97 during trading on Monday, reaching $278.85. 122,751 shares of the stock were exchanged, compared to its average volume of 127,173. The business's 50 day simple moving average is $255.14. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 24.35 and a beta of 1.47. Piper Sandler Companies has a twelve month low of $100.55 and a twelve month high of $351.80.

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 EPS for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The firm had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. During the same quarter in the previous year, the company posted $2.79 earnings per share. The company's quarterly revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 0.93%. Piper Sandler Companies's dividend payout ratio (DPR) is currently 22.73%.

Analysts Set New Price Targets

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

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.