Transcend Capital Advisors LLC Makes New $265,000 Investment in Piper Sandler Companies (NYSE:PIPR)

Transcend Capital Advisors LLC acquired 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 filing with the SEC. The firm acquired 1,070 shares of the financial services provider's stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc increased its position in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after purchasing an additional 131 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at approximately $523,000. Proficio Capital Partners LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter worth about $8,097,000. Fisher Asset Management LLC lifted its holdings in Piper Sandler Companies by 7.3% during the 4th quarter. Fisher Asset Management LLC now owns 155,909 shares of the financial services provider's stock worth $46,765,000 after buying an additional 10,588 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock worth $94,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group decreased their price target on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research note on Friday, March 14th.

Piper Sandler Companies Stock Up 2.6%

NYSE PIPR traded up $7.34 on Tuesday, hitting $285.28. 207,363 shares of the company were exchanged, compared to its average volume of 140,212. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80. The company's 50 day moving average price is $255.61. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 24.94 and a beta of 1.47.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $357.27 million for 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 EPS. Equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.91%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 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.