Wallace Capital Management Inc. Has $656,000 Stock Position in Piper Sandler Companies (NYSE:PIPR)

Wallace Capital Management Inc. trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 31.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,188 shares of the financial services provider's stock after selling 1,000 shares during the period. Wallace Capital Management Inc.'s holdings in Piper Sandler Companies were worth $656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in shares of Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 131 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter valued at approximately $51,000. Allworth Financial LP grew its stake in shares of Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 160 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 242 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of Piper Sandler Companies by 280.9% in the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock valued at $102,000 after purchasing an additional 250 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR traded down $1.13 on Friday, hitting $250.12. The company's stock had a trading volume of 141,714 shares, compared to its average volume of 123,644. The company has a market capitalization of $4.44 billion, a P/E ratio of 24.47 and a beta of 1.50. Piper Sandler Companies has a fifty-two week low of $201.97 and a fifty-two 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 EPS for the quarter, topping 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 in the previous year, the business earned $2.79 EPS. Piper Sandler Companies's revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

Analyst Upgrades and Downgrades

PIPR has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

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.