MML Investors Services LLC Grows Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

MML Investors Services LLC grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 113.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,813 shares of the financial services provider's stock after buying an additional 2,023 shares during the period. MML Investors Services LLC's holdings in Piper Sandler Companies were worth $1,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc boosted its stake in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after purchasing an additional 131 shares in the last quarter. Allworth Financial LP increased its position in shares of Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC lifted its position in Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Piper Sandler Companies by 336.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 242 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Piper Sandler Companies by 280.9% in the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider's stock worth $102,000 after purchasing an additional 250 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 1.8 %

Shares of Piper Sandler Companies stock traded down $4.46 during trading hours on Monday, reaching $247.41. 168,047 shares of the stock traded hands, compared to its average volume of 119,325. Piper Sandler Companies has a one year low of $201.97 and a one year high of $351.80. The company has a market cap of $4.40 billion, a P/E ratio of 24.21 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 earnings per share for the quarter, topping 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 the consensus estimate of $366.99 million. During the same period last year, the firm earned $2.79 earnings per share. The company's quarterly revenue was up 14.7% on a year-over-year basis. Research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal 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 $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, May 30th. Piper Sandler Companies's payout ratio is 22.73%.

Analyst Ratings Changes

PIPR has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price target on 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 restated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday. Finally, StockNews.com lowered shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

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.