Invesco Ltd. Grows Position in Piper Sandler Companies (NYSE:PIPR)

Invesco Ltd. increased its position in Piper Sandler Companies (NYSE:PIPR - Free Report) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 697,824 shares of the financial services provider's stock after purchasing an additional 102,426 shares during the quarter. Invesco Ltd. owned approximately 3.92% of Piper Sandler Companies worth $209,312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PIPR. Quantinno Capital Management LP raised its holdings in shares of Piper Sandler Companies by 5.7% in the 3rd quarter. Quantinno Capital Management LP now owns 2,642 shares of the financial services provider's stock valued at $750,000 after purchasing an additional 142 shares in the last quarter. State Street Corp raised its position in shares of Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider's stock worth $193,680,000 after acquiring an additional 2,137 shares in the last quarter. MML Investors Services LLC boosted its position in Piper Sandler Companies by 4.3% during the third quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider's stock valued at $508,000 after purchasing an additional 74 shares in the last quarter. Barclays PLC grew its stake in Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock valued at $9,174,000 after purchasing an additional 24,388 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Piper Sandler Companies by 2.0% during the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider's stock valued at $107,184,000 after buying an additional 7,344 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Stock Up 0.8 %

Shares of PIPR stock traded up $1.89 on Thursday, hitting $225.29. The company had a trading volume of 35,601 shares, compared to its average volume of 117,211. The firm has a market cap of $3.99 billion, a P/E ratio of 22.04 and a beta of 1.38. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80. The company has a 50-day moving average price of $240.61 and a 200-day moving average price of $274.83.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period in the previous year, the company posted $4.03 earnings per share. Equities research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.15%. Piper Sandler Companies's dividend payout ratio is presently 25.44%.

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.