First Trust Advisors LP Boosts Stake in Piper Sandler Companies (NYSE:PIPR)

First Trust Advisors LP lifted its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 769.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,315 shares of the financial services provider's stock after purchasing an additional 23,287 shares during the period. First Trust Advisors LP owned 0.15% of Piper Sandler Companies worth $7,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in shares of 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 boosted its stake in shares of Piper Sandler Companies by 0.8% during 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 purchasing an additional 40 shares in the last quarter. GAMMA Investing LLC grew its holdings in Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after acquiring an additional 60 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Piper Sandler Companies by 4.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider's stock worth $545,000 after purchasing an additional 85 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Piper Sandler Companies by 30.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider's stock worth $112,000 after purchasing an additional 87 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Up 3.8 %

Shares of NYSE:PIPR traded up $9.19 during mid-day trading on Friday, hitting $252.00. The company had a trading volume of 262,103 shares, compared to its average volume of 118,950. The firm has a market capitalization of $4.48 billion, a P/E ratio of 24.66 and a beta of 1.50. Piper Sandler Companies has a one year low of $201.97 and a one year high of $351.80.

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

Analyst Ratings Changes

PIPR has been the topic of several recent research reports. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research report on Friday, March 14th.

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.