Mesirow Institutional Investment Management Inc. Sells 2,906 Shares of Piper Sandler Companies (NYSE:PIPR)

Mesirow Institutional Investment Management Inc. reduced its holdings in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,358 shares of the financial services provider's stock after selling 2,906 shares during the quarter. Mesirow Institutional Investment Management Inc. owned 0.20% of Piper Sandler Companies worth $10,906,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IFP Advisors Inc raised its holdings in Piper Sandler Companies by 2,183.3% in the fourth 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 in the last quarter. West Oak Capital LLC raised its holdings in shares of Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock valued at $45,000 after buying an additional 1,300 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC raised its stake in shares of Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after buying an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings 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 buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. StockNews.com cut 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 report on Monday, February 3rd. Finally, The Goldman Sachs Group cut 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

Piper Sandler Companies stock traded up $0.96 during mid-day trading on Friday, hitting $237.27. 42,081 shares of the company's stock were exchanged, compared to its average volume of 118,307. Piper Sandler Companies has a 1-year low of $189.30 and a 1-year high of $351.80. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 23.24 and a beta of 1.38.

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 (EPS) 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 business posted $4.03 earnings per share. As a group, sell-side analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.10%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies's payout ratio is 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.