Pinebridge Investments L.P. Invests $2.51 Million in Piper Sandler Companies (NYSE:PIPR)

Pinebridge Investments L.P. acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,377 shares of the financial services provider's stock, valued at approximately $2,513,000.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their target price 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.

Piper Sandler Companies Price Performance

NYSE:PIPR traded down $0.27 during mid-day trading on Wednesday, hitting $241.72. The company had a trading volume of 131,314 shares, compared to its average volume of 118,600. The firm has a market capitalization of $4.30 billion, a PE ratio of 23.65 and a beta of 1.38. Piper Sandler Companies has a 1 year low of $195.29 and a 1 year high of $351.80.

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

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio is currently 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.