Piper Sandler Companies (NYSE:PIPR) Shares Sold by Vise Technologies Inc.

Vise Technologies Inc. cut its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 37.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,051 shares of the financial services provider's stock after selling 1,251 shares during the quarter. Vise Technologies Inc.'s holdings in Piper Sandler Companies were worth $615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in Piper Sandler Companies by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock worth $226,000 after purchasing an additional 37 shares during the period. Arizona State Retirement System increased its stake in Piper Sandler Companies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock valued at $1,541,000 after acquiring an additional 40 shares during the last quarter. Lido Advisors LLC raised its position in Piper Sandler Companies by 1.2% during the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock valued at $1,255,000 after purchasing an additional 49 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Piper Sandler Companies by 4.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock worth $418,000 after purchasing an additional 56 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Piper Sandler Companies by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider's stock valued at $545,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Down 2.0%

Shares of NYSE:PIPR traded down $5.20 on Wednesday, hitting $251.16. The company's stock had a trading volume of 88,118 shares, compared to its average volume of 123,711. The stock has a market cap of $4.46 billion, a P/E ratio of 24.58 and a beta of 1.50. Piper Sandler Companies has a 1 year low of $201.97 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates 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 11.87% and a return on equity of 17.00%. Piper Sandler Companies's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 earnings per share. On average, equities research analysts expect that Piper Sandler Companies will post 14.14 EPS 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. Stockholders of record on Friday, May 30th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their target price 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. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

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.