SG Americas Securities LLC Purchases New Shares in Piper Sandler Companies (NYSE:PIPR)

SG Americas Securities LLC acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the financial services provider's stock, valued at approximately $743,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in shares of Piper Sandler Companies by 336.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 242 shares in the last quarter. IFP Advisors Inc lifted its stake in Piper Sandler Companies by 2,183.3% in the fourth 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. Arizona State Retirement System boosted its holdings in shares of 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 worth $1,541,000 after buying an additional 40 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Piper Sandler Companies during the 4th quarter worth approximately $8,097,000. Finally, HighTower Advisors LLC grew its position in shares of Piper Sandler Companies by 9.2% during the 4th quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider's stock worth $749,000 after buying an additional 211 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of research reports. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a report on Friday, March 14th.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock traded up $10.09 during mid-day trading on Tuesday, reaching $272.61. The stock had a trading volume of 190,345 shares, compared to its average volume of 126,824. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 23.83 and a beta of 1.47. 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 50-day simple moving average of $253.14.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) 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 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%. Piper Sandler Companies's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 EPS. As a group, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.65 per share. The ex-dividend date was Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.95%. Piper Sandler Companies's dividend payout ratio (DPR) is currently 22.73%.

About Piper Sandler Companies

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.