Raymond James Financial Inc. Invests $7.46 Million in Piper Sandler Companies (NYSE:PIPR)

Raymond James Financial Inc. acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,884 shares of the financial services provider's stock, valued at approximately $7,464,000. Raymond James Financial Inc. owned approximately 0.14% of Piper Sandler Companies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PIPR. IFP Advisors Inc lifted its position 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 valued at $43,000 after acquiring an additional 131 shares in the last quarter. West Oak Capital LLC lifted its position in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 1,300 shares in the last quarter. Allworth Financial LP lifted its position in Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC lifted its position 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 in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 242 shares in the last quarter. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Up 0.5 %

Shares of Piper Sandler Companies stock traded up $1.11 during mid-day trading on Monday, hitting $239.15. 109,718 shares of the stock were exchanged, compared to its average volume of 118,488. Piper Sandler Companies has a 12 month low of $195.29 and a 12 month high of $351.80. The stock has a market cap of $4.25 billion, a P/E ratio of 23.40 and a beta of 1.38.

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

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.09%. Piper Sandler Companies's payout ratio is currently 25.44%.

Analyst Ratings Changes

PIPR has been the topic of several recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their target price on shares of 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. Finally, StockNews.com cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th.

Piper Sandler Companies 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.