Piper Sandler Companies (NYSE:PIPR) Stock Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,487 shares of the financial services provider's stock after buying an additional 2,981 shares during the quarter. Principal Financial Group Inc. owned about 0.45% of Piper Sandler Companies worth $19,933,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PIPR. Teacher Retirement System of Texas raised its holdings in shares of Piper Sandler Companies by 177.4% during the first quarter. Teacher Retirement System of Texas now owns 24,909 shares of the financial services provider's stock valued at $6,169,000 after buying an additional 15,928 shares during the last quarter. Lisanti Capital Growth LLC increased its position in Piper Sandler Companies by 37.6% in the 1st quarter. Lisanti Capital Growth LLC now owns 17,300 shares of the financial services provider's stock valued at $4,285,000 after acquiring an additional 4,730 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Piper Sandler Companies by 42.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,114 shares of the financial services provider's stock valued at $10,091,000 after acquiring an additional 11,984 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Piper Sandler Companies by 1.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 9,058 shares of the financial services provider's stock worth $2,243,000 after acquiring an additional 123 shares during the period. Finally, Transcend Capital Advisors LLC bought a new position in shares of Piper Sandler Companies in the first quarter worth $265,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

NYSE PIPR traded up $3.18 on Monday, reaching $305.47. 123,717 shares of the stock traded hands, compared to its average volume of 129,360. The stock's fifty day moving average price is $265.33. The company has a market capitalization of $5.43 billion, a P/E ratio of 26.70 and a beta of 1.48. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The company's revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.79 earnings per share. Research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.65 per share. The ex-dividend date was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.85%. Piper Sandler Companies's dividend payout ratio (DPR) is 22.73%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PIPR. Wolfe Research upgraded shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price objective on the stock in a research note on Thursday. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

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.