Wealth Enhancement Advisory Services LLC Sells 1,899 Shares of Piper Sandler Companies (NYSE:PIPR)

Wealth Enhancement Advisory Services LLC cut its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 15.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,493 shares of the financial services provider's stock after selling 1,899 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Piper Sandler Companies worth $3,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PIPR. IFP Advisors Inc grew its position in Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after buying an additional 131 shares in the last quarter. Park Square Financial Group LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at about $45,000. Lazard Asset Management LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at about $51,000. Allworth Financial LP lifted its position in Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock worth $70,000 after purchasing an additional 160 shares during the period. Finally, Wood Tarver Financial Group LLC acquired a new stake in Piper Sandler Companies during the fourth quarter worth about $73,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of 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 research note on Monday, May 5th.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock traded up $7.14 during trading on Friday, reaching $264.14. 93,328 shares of the company's stock were exchanged, compared to its average volume of 124,989. Piper Sandler Companies has a 1-year low of $201.97 and a 1-year high of $351.80. The stock has a market capitalization of $4.69 billion, a P/E ratio of 25.85 and a beta of 1.47.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $1.24. The firm had revenue of $357.27 million for the quarter, compared to analysts' expectations of $366.99 million. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. The business's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 earnings per share. On average, research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, May 30th. 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.