Stephens Investment Management Group LLC Grows Position in Piper Sandler Companies (NYSE:PIPR)

Stephens Investment Management Group LLC grew its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,507 shares of the financial services provider's stock after purchasing an additional 35,953 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.41% of Piper Sandler Companies worth $62,041,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Piper Sandler Companies by 1.5% in 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 in the last quarter. Invesco Ltd. raised its holdings in shares of Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock valued at $209,312,000 after purchasing an additional 102,426 shares in the last quarter. Alliancebernstein L.P. raised its holdings 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 valued at $108,049,000 after purchasing an additional 8,066 shares in the last quarter. Norges Bank bought a new stake in shares of Piper Sandler Companies in the 4th quarter valued at about $68,696,000. Finally, Northern Trust Corp raised its holdings in shares of Piper Sandler Companies by 9.4% in 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.

Analysts Set New Price Targets

PIPR has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price objective for the company in a research note on Thursday, July 10th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR traded up $10.43 during trading hours on Wednesday, hitting $307.63. 287,950 shares of the stock were exchanged, compared to its average volume of 129,438. The firm has a market capitalization of $5.47 billion, a P/E ratio of 26.89 and a beta of 1.48. The firm's fifty day simple moving average is $268.66. 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 posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $2.85 by $1.24. The firm had revenue of $357.27 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 EPS. Research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's dividend payout ratio 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.