ProShare Advisors LLC Raises Stock Position in Piper Sandler Companies (NYSE:PIPR)

ProShare Advisors LLC lifted its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,204 shares of the financial services provider's stock after acquiring an additional 1,611 shares during the period. ProShare Advisors LLC's holdings in Piper Sandler Companies were worth $1,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of Piper Sandler Companies by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock valued at $226,000 after buying an additional 37 shares during the period. Arizona State Retirement System grew its holdings in Piper Sandler Companies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock valued at $1,541,000 after buying an additional 40 shares in the last quarter. Lido Advisors LLC increased its position in shares of Piper Sandler Companies by 1.2% during the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock valued at $1,255,000 after buying an additional 49 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Piper Sandler Companies by 4.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock worth $418,000 after buying an additional 56 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of Piper Sandler Companies by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider's stock valued at $545,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 72.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PIPR shares. The Goldman Sachs Group lowered 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 research note on Friday, March 14th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

Piper Sandler Companies Trading Up 2.4%

Shares of PIPR traded up $5.88 during trading hours on Tuesday, reaching $255.28. 12,203 shares of the company traded hands, compared to its average volume of 123,204. Piper Sandler Companies has a 12 month low of $201.97 and a 12 month high of $351.80. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 24.98 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.00% and a net margin of 11.87%. The business had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. During the same quarter in the prior year, the company earned $2.79 earnings per share. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. On average, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm 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 $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is 22.73%.

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.