Cresset Asset Management LLC Sells 1,832 Shares of Piper Sandler Companies (NYSE:PIPR)

Cresset Asset Management LLC lessened its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,247 shares of the financial services provider's stock after selling 1,832 shares during the quarter. Cresset Asset Management LLC's holdings in Piper Sandler Companies were worth $1,274,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Cetera Investment Advisers lifted its stake in Piper Sandler Companies by 88.4% in the fourth quarter. Cetera Investment Advisers now owns 2,108 shares of the financial services provider's stock valued at $632,000 after acquiring an additional 989 shares during the last quarter. Brevan Howard Capital Management LP raised its position in shares of Piper Sandler Companies by 139.8% in the fourth quarter. Brevan Howard Capital Management LP now owns 2,746 shares of the financial services provider's stock valued at $824,000 after purchasing an additional 1,601 shares during the period. Captrust Financial Advisors increased its position in Piper Sandler Companies by 31.9% during the fourth quarter. Captrust Financial Advisors now owns 3,100 shares of the financial services provider's stock worth $930,000 after acquiring an additional 749 shares during the period. Baird Financial Group Inc. increased its position in Piper Sandler Companies by 140.2% during the fourth quarter. Baird Financial Group Inc. now owns 711 shares of the financial services provider's stock worth $213,000 after acquiring an additional 415 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Piper Sandler Companies by 3.3% during the fourth quarter. Ameriprise Financial Inc. now owns 58,648 shares of the financial services provider's stock worth $17,591,000 after acquiring an additional 1,867 shares during the period. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Trading Up 0.8%

Shares of NYSE PIPR traded up $2.01 during trading on Friday, hitting $267.47. 136,381 shares of the company traded hands, compared to its average volume of 122,237. Piper Sandler Companies has a fifty-two week low of $201.97 and a fifty-two week high of $351.80. The firm has a market capitalization of $4.75 billion, a P/E ratio of 26.17 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The firm had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. During the same quarter in the prior year, the business earned $2.79 earnings per share. The business's quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.65 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.97%. Piper Sandler Companies's dividend payout ratio is presently 22.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PIPR shares. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th.

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.