Y Intercept Hong Kong Ltd Purchases New Holdings in Piper Sandler Companies (NYSE:PIPR)

Y Intercept Hong Kong Ltd bought a new position in Piper Sandler Companies (NYSE:PIPR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,082 shares of the financial services provider's stock, valued at approximately $1,011,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PIPR. Norges Bank bought a new stake in shares of Piper Sandler Companies in the 4th quarter worth about $68,696,000. GAMMA Investing LLC grew its position in shares of Piper Sandler Companies by 39,239.4% during the 1st quarter. GAMMA Investing LLC now owns 108,970 shares of the financial services provider's stock valued at $26,988,000 after buying an additional 108,693 shares during the last quarter. Invesco Ltd. grew its position in shares of Piper Sandler Companies by 17.2% during the 4th 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. Stephens Investment Management Group LLC grew its position in shares of Piper Sandler Companies by 16.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 250,507 shares of the financial services provider's stock valued at $62,041,000 after buying an additional 35,953 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Piper Sandler Companies by 1.5% during the 4th 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. Institutional investors own 72.79% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PIPR. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 price objective for the company in a research report on Thursday, July 10th. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR traded down $2.22 during trading on Monday, reaching $312.16. The company had a trading volume of 28,262 shares, compared to its average volume of 141,193. The business's fifty day moving average is $275.92. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 27.29 and a beta of 1.48. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly 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 13.20% and a return on equity of 18.32%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 EPS. On average, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies's dividend payout ratio is presently 22.73%.

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.