Piper Sandler Companies (NYSE:PIPR) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 29.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,483 shares of the financial services provider's stock after acquiring an additional 2,613 shares during the period. Wells Fargo & Company MN owned 0.06% of Piper Sandler Companies worth $3,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Piper Sandler Companies by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock worth $618,974,000 after acquiring an additional 31,400 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Piper Sandler Companies by 2.3% during the 4th quarter. Alliancebernstein L.P. now owns 360,224 shares of the financial services provider's stock worth $108,049,000 after acquiring an additional 8,066 shares during the period. Norges Bank purchased a new position in shares of Piper Sandler Companies during the 4th quarter worth $68,696,000. Stephens Investment Management Group LLC raised its holdings in shares of Piper Sandler Companies by 3.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider's stock worth $64,355,000 after acquiring an additional 6,970 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Piper Sandler Companies by 7.3% during the 4th quarter. Fisher Asset Management LLC now owns 155,909 shares of the financial services provider's stock worth $46,765,000 after acquiring an additional 10,588 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PIPR shares. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group cut their price objective on 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 up $1.11 during trading on Monday, hitting $239.15. The stock had a trading volume of 109,718 shares, compared to its average volume of 118,488. The company has a market cap of $4.25 billion, a P/E ratio of 23.40 and a beta of 1.38. Piper Sandler Companies has a twelve month low of $195.29 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company earned $4.03 earnings per share. On average, analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.09%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 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.