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

Stephens Investment Management Group LLC increased its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds also recently modified their holdings of PIPR. MassMutual Private Wealth & Trust FSB grew its stake in 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 buying an additional 62 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in Piper Sandler Companies in the 1st quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new position in Piper Sandler Companies in the 4th quarter valued at approximately $45,000. Lazard Asset Management LLC purchased a new position in Piper Sandler Companies in the 4th quarter valued at approximately $51,000. Finally, Parallel Advisors LLC grew its stake in Piper Sandler Companies by 28.6% in the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider's stock valued at $53,000 after buying an additional 48 shares in the last quarter. Institutional investors own 72.79% of the company's stock.

Analyst Upgrades and Downgrades

PIPR has been the subject of a number of recent research 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. JMP Securities reiterated 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%

Shares of PIPR traded down $1.14 during mid-day trading on Friday, reaching $301.48. 189,226 shares of the stock traded hands, compared to its average volume of 129,383. The business has a fifty day simple moving average of $265.33. The firm has a market cap of $5.36 billion, a P/E ratio of 26.35 and a beta of 1.48. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.79 EPS. Equities analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.86%. Piper Sandler Companies's dividend payout ratio (DPR) is currently 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.