North Reef Capital Management LP Reduces Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

North Reef Capital Management LP trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 30.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,348 shares of the financial services provider's stock after selling 36,562 shares during the period. Piper Sandler Companies makes up approximately 1.1% of North Reef Capital Management LP's holdings, making the stock its 21st biggest holding. North Reef Capital Management LP owned approximately 0.48% of Piper Sandler Companies worth $25,600,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PIPR. Barclays PLC raised its holdings in shares of Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock worth $9,174,000 after acquiring an additional 24,388 shares in the last quarter. Tidal Investments LLC increased its position 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 valued at $1,732,000 after purchasing an additional 2,629 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Piper Sandler Companies by 27.6% during the 4th 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 during the last quarter. Modus Advisors LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter valued at approximately $404,000. Finally, Oliver Luxxe Assets LLC increased its position in shares of Piper Sandler Companies by 5.7% during the 4th quarter. Oliver Luxxe Assets LLC now owns 11,838 shares of the financial services provider's stock valued at $3,551,000 after purchasing an additional 636 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Down 0.7 %

Shares of NYSE PIPR traded down $1.70 during trading hours on Wednesday, hitting $240.29. 40,731 shares of the stock were exchanged, compared to its average volume of 118,245. The firm has a market cap of $4.27 billion, a PE ratio of 23.51 and a beta of 1.38. Piper Sandler Companies has a 12 month low of $195.29 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping 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 quarter last year, the firm posted $4.03 earnings per share. On average, equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio is presently 25.44%.

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.