Hsbc Holdings PLC Purchases 3,868 Shares of Piper Sandler Companies (NYSE:PIPR)

Hsbc Holdings PLC boosted its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 132.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,782 shares of the financial services provider's stock after acquiring an additional 3,868 shares during the period. Hsbc Holdings PLC's holdings in Piper Sandler Companies were worth $2,029,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its stake in shares of Piper Sandler Companies by 227.0% during the 4th quarter. Stifel Financial Corp now owns 2,619 shares of the financial services provider's stock worth $786,000 after purchasing an additional 1,818 shares during the period. Tower Research Capital LLC TRC increased its position in Piper Sandler Companies by 54.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,366 shares of the financial services provider's stock valued at $410,000 after acquiring an additional 481 shares during the period. MML Investors Services LLC increased its position in shares of Piper Sandler Companies by 113.0% during the 4th quarter. MML Investors Services LLC now owns 3,813 shares of the financial services provider's stock valued at $1,144,000 after purchasing an additional 2,023 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Piper Sandler Companies by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 10,447 shares of the financial services provider's stock worth $3,134,000 after acquiring an additional 588 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Piper Sandler Companies by 769.1% in the fourth quarter. First Trust Advisors LP now owns 26,315 shares of the financial services provider's stock worth $7,893,000 after buying an additional 23,287 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

Shares of PIPR traded up $9.19 during trading hours on Friday, reaching $252.00. 262,103 shares of the stock traded hands, compared to its average volume of 119,129. Piper Sandler Companies has a 52 week low of $201.97 and a 52 week high of $351.80. 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 (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $2.85 by $1.24. The company had revenue of $357.27 million for the quarter, compared to analysts' expectations of $366.99 million. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. Piper Sandler Companies'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 earned $2.79 earnings per share. On average, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PIPR shares. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered 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. Finally, JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

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.