Allspring Global Investments Holdings LLC Has $8.91 Million Stake in Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC reduced its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,948 shares of the financial services provider's stock after selling 9,764 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.29% of Piper Sandler Companies worth $8,909,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. DHJJ Financial Advisors Ltd. acquired a new position in Piper Sandler Companies during the third quarter worth $29,000. West Oak Capital LLC acquired a new position in Piper Sandler Companies during the fourth quarter worth $33,000. Steward Partners Investment Advisory LLC raised its holdings in Piper Sandler Companies by 328.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider's stock worth $30,000 after purchasing an additional 174 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in Piper Sandler Companies by 67.0% during the first quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider's stock worth $48,000 after purchasing an additional 138 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in Piper Sandler Companies by 706.0% during the second quarter. Stephens Inc. AR now owns 403 shares of the financial services provider's stock worth $52,000 after purchasing an additional 353 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock traded down $0.51 during mid-day trading on Wednesday, hitting $185.04. 65,300 shares of the company were exchanged, compared to its average volume of 94,911. The business's 50 day simple moving average is $194.39 and its two-hundred day simple moving average is $186.01. The company has a market capitalization of $3.28 billion, a P/E ratio of 37.46 and a beta of 1.42. Piper Sandler Companies has a 12-month low of $120.97 and a 12-month high of $202.76.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, topping the consensus estimate of $2.61 by $1.42. The company had revenue of $457.39 million during the quarter, compared to the consensus estimate of $370.12 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. Piper Sandler Companies's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 earnings per share. Equities research analysts predict that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, March 1st. Piper Sandler Companies's dividend payout ratio is currently 48.58%.

Insider Activity

In other news, President Debbra L. Schoneman sold 205 shares of Piper Sandler Companies stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total value of $38,960.25. Following the completion of the sale, the president now owns 16,935 shares of the company's stock, valued at $3,218,496.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 205 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $190.05, for a total transaction of $38,960.25. Following the transaction, the president now owns 16,935 shares in the company, valued at $3,218,496.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the transaction, the president now owns 12,140 shares in the company, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock valued at $9,838,711 over the last quarter. Company insiders own 3.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. Northland Securities downgraded Piper Sandler Companies from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 19th. The Goldman Sachs Group raised their price target on Piper Sandler Companies from $171.00 to $193.00 and gave the stock a "buy" rating in a research report on Tuesday, December 19th. Finally, StockNews.com raised Piper Sandler Companies from a "hold" rating to a "buy" rating in a research report on Wednesday, February 28th.

About Piper Sandler Companies

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.