Piper Sandler Companies (NYSE:PIPR) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. trimmed its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 21.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 264,640 shares of the financial services provider's stock after selling 73,291 shares during the quarter. Westwood Holdings Group Inc. owned 1.49% of Piper Sandler Companies worth $79,379,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Piper Sandler Companies in the fourth quarter valued at about $68,696,000. Invesco Ltd. increased its holdings in Piper Sandler Companies by 17.2% in the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock valued at $209,312,000 after buying an additional 102,426 shares during the last quarter. Vanguard Group Inc. increased its holdings in Piper Sandler Companies by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock valued at $618,974,000 after buying an additional 31,400 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Piper Sandler Companies in the fourth quarter valued at about $8,097,000. Finally, Raymond James Financial Inc. bought a new stake in Piper Sandler Companies in the fourth quarter valued at about $7,464,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 0.5%

PIPR stock traded down $1.13 during midday trading on Friday, reaching $250.12. The company had a trading volume of 141,714 shares, compared to its average volume of 123,371. Piper Sandler Companies has a fifty-two week low of $201.97 and a fifty-two week high of $351.80. The company has a market cap of $4.44 billion, a P/E ratio of 24.47 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $1.24. The business had revenue of $357.27 million during the quarter, compared to the consensus estimate 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 was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 earnings per share. 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 given a dividend of $0.65 per share. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 1.04%. Piper Sandler Companies's dividend payout ratio is presently 22.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PIPR shares. The Goldman Sachs Group decreased their target price 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. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research note 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.