Tidal Investments LLC Sells 1,226 Shares of Piper Sandler Companies (NYSE:PIPR)

Tidal Investments LLC lowered its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,878 shares of the financial services provider's stock after selling 1,226 shares during the quarter. Tidal Investments LLC's holdings in Piper Sandler Companies were worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PIPR. Systematic Financial Management LP boosted its stake in Piper Sandler Companies by 1.8% during the fourth quarter. Systematic Financial Management LP now owns 199,842 shares of the financial services provider's stock worth $59,943,000 after acquiring an additional 3,500 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Piper Sandler Companies by 44.8% during the fourth quarter. ProShare Advisors LLC now owns 5,204 shares of the financial services provider's stock valued at $1,561,000 after purchasing an additional 1,611 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Piper Sandler Companies by 3.3% during the fourth quarter. Quantinno Capital Management LP now owns 2,730 shares of the financial services provider's stock valued at $819,000 after purchasing an additional 88 shares during the last quarter. Nicholas Investment Partners LP boosted its position in shares of Piper Sandler Companies by 3.2% in the 4th quarter. Nicholas Investment Partners LP now owns 32,916 shares of the financial services provider's stock worth $9,873,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Piper Sandler Companies by 34.2% in the 4th quarter. Millennium Management LLC now owns 93,635 shares of the financial services provider's stock worth $28,086,000 after buying an additional 23,860 shares during the last quarter. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR traded down $1.58 during midday trading on Friday, hitting $250.73. The stock had a trading volume of 6,901 shares, compared to its average volume of 123,418. Piper Sandler Companies has a 52 week low of $201.97 and a 52 week high of $351.80. The company has a market cap of $4.46 billion, a PE ratio of 24.61 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $366.99 million. During the same period last year, the business posted $2.79 EPS. The company's revenue was up 14.7% compared to the same quarter last year. On average, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.65 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.04%. Piper Sandler Companies's payout ratio is 22.73%.

Wall Street Analysts Forecast Growth

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

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.