Piper Sandler Companies (NYSE:PIPR) Shares Acquired by Northern Trust Corp

Northern Trust Corp grew its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,005 shares of the financial services provider's stock after purchasing an additional 17,120 shares during the quarter. Northern Trust Corp owned approximately 1.12% of Piper Sandler Companies worth $59,991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC lifted its holdings in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock worth $9,174,000 after buying an additional 24,388 shares during the period. Tidal Investments LLC lifted its stake in shares of Piper Sandler Companies by 75.7% during the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider's stock worth $1,732,000 after purchasing an additional 2,629 shares during the last quarter. GAMMA Investing LLC boosted its position in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 60 shares in the last quarter. West Oak Capital LLC grew its stake in Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Piper Sandler Companies by 46.9% in the fourth 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 currently owned by institutional investors.

Analyst Ratings Changes

PIPR has been the topic of several analyst reports. The Goldman Sachs Group cut their price target 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 report on Monday, May 5th.

Piper Sandler Companies Price Performance

PIPR stock traded down $4.75 during midday trading on Friday, reaching $251.44. The stock had a trading volume of 131,785 shares, compared to its average volume of 120,389. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.60 and a beta of 1.50. Piper Sandler Companies has a 52-week low of $201.97 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued 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. The company had revenue of $357.27 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 1.03%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 22.73%.

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.