Transcend Capital Advisors LLC Buys New Position in Piper Sandler Companies (NYSE:PIPR)

Transcend Capital Advisors LLC bought a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,070 shares of the financial services provider's stock, valued at approximately $265,000.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Piper Sandler Companies during the fourth quarter worth approximately $68,696,000. GAMMA Investing LLC raised its holdings in shares of Piper Sandler Companies by 39,239.4% during the 1st quarter. GAMMA Investing LLC now owns 108,970 shares of the financial services provider's stock worth $26,988,000 after acquiring an additional 108,693 shares during the period. Invesco Ltd. boosted its position in shares of Piper Sandler Companies by 17.2% during the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock valued at $209,312,000 after acquiring an additional 102,426 shares during the last quarter. Vanguard Group Inc. increased its position in Piper Sandler Companies by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock worth $618,974,000 after purchasing an additional 31,400 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Piper Sandler Companies during the fourth quarter worth about $8,097,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR traded up $0.47 during mid-day trading on Friday, reaching $293.44. 91,181 shares of the company's stock were exchanged, compared to its average volume of 128,321. The stock's 50-day moving average is $260.34. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 25.65 and a beta of 1.48. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $2.85 by $1.24. The company 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 earnings per share. On average, sell-side analysts forecast 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. Investors of record on Friday, May 30th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 0.89%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 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.