Algert Global LLC Increases Stock Position in Piper Sandler Companies (NYSE:PIPR)

Algert Global LLC lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,916 shares of the financial services provider's stock after purchasing an additional 1,606 shares during the period. Algert Global LLC owned 0.06% of Piper Sandler Companies worth $3,274,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its position in Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock worth $9,174,000 after buying an additional 24,388 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Piper Sandler Companies by 336.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock worth $94,000 after acquiring an additional 242 shares during the period. IFP Advisors Inc increased its holdings in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after acquiring an additional 131 shares during the last quarter. Park Avenue Securities LLC raised its stake in Piper Sandler Companies by 46.9% in the 4th quarter. Park Avenue Securities LLC now owns 3,103 shares of the financial services provider's stock valued at $931,000 after acquiring an additional 990 shares during the period. Finally, GAMMA Investing LLC raised its stake in Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 60 shares during the period. Institutional investors own 72.79% of the company's stock.

Analyst Upgrades and Downgrades

PIPR has been the subject of several recent research reports. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note 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 for the company in a research note on Friday, March 14th.

Piper Sandler Companies Stock Up 0.3%

Shares of PIPR traded up $0.92 during midday trading on Tuesday, hitting $265.97. 14,303 shares of the company traded hands, compared to its average volume of 120,315. Piper Sandler Companies has a one year low of $201.97 and a one year high of $351.80. The stock has a market cap of $4.73 billion, a PE ratio of 26.02 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping 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 business had revenue of $357.27 million for the quarter, compared to analysts' expectations of $366.99 million. During the same period in the prior year, the company posted $2.79 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, May 30th. Piper Sandler Companies's dividend payout ratio is 22.73%.

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.