Hsbc Holdings PLC Raises Stake in Piper Sandler Companies (NYSE:PIPR)

Hsbc Holdings PLC lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 132.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,782 shares of the financial services provider's stock after purchasing an additional 3,868 shares during the quarter. Hsbc Holdings PLC's holdings in Piper Sandler Companies were worth $2,029,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock valued at $9,174,000 after buying an additional 24,388 shares during the period. Smartleaf Asset Management LLC raised its position in Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock worth $94,000 after acquiring an additional 242 shares in the last quarter. Tidal Investments LLC lifted its holdings in Piper Sandler Companies by 75.7% in the third quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider's stock valued at $1,732,000 after acquiring an additional 2,629 shares during the period. IFP Advisors Inc lifted its holdings in Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 131 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Piper Sandler Companies by 46.9% during the 4th quarter. Park Avenue Securities LLC now owns 3,103 shares of the financial services provider's stock worth $931,000 after purchasing an additional 990 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Down 0.3 %

NYSE PIPR traded down $0.67 during trading hours on Tuesday, reaching $245.91. The company's stock had a trading volume of 13,329 shares, compared to its average volume of 118,955. Piper Sandler Companies has a fifty-two week low of $201.97 and a fifty-two week high of $351.80. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 23.99 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS 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 business had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. During the same period in the prior year, the business earned $2.79 earnings per share. The company's quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, May 30th. Piper Sandler Companies's payout ratio is 22.73%.

Wall Street Analyst Weigh In

Several analysts recently commented on PIPR shares. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday. The Goldman Sachs Group reduced their price target 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. Finally, StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Company 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.