Principal Financial Group Inc. Increases Stock Position in Piper Sandler Companies (NYSE:PIPR)

Principal Financial Group Inc. raised its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 3.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 80,487 shares of the financial services provider's stock after purchasing an additional 2,981 shares during the period. Principal Financial Group Inc. owned 0.45% of Piper Sandler Companies worth $19,933,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 purchasing an additional 62 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Piper Sandler Companies during the 4th quarter valued at $45,000. Lazard Asset Management LLC acquired a new position in shares of Piper Sandler Companies during the 4th quarter valued at $51,000. Parallel Advisors LLC lifted its position in shares of Piper Sandler Companies by 28.6% during the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 48 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of 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 valued at $67,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 72.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wolfe Research raised Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price target on the stock in a research note on Thursday. The Goldman Sachs Group dropped their price target on 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. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Trading Down 0.4%

PIPR traded down $1.14 during trading on Friday, hitting $301.48. 189,226 shares of the company's stock were exchanged, compared to its average volume of 129,565. The firm's 50 day moving average price is $264.34. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $351.80. The company has a market cap of $5.36 billion, a PE ratio of 26.35 and a beta of 1.48.

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

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is presently 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.