Russell Investments Group Ltd. Cuts Stock Position in Piper Sandler Companies (NYSE:PIPR)

Russell Investments Group Ltd. lessened its stake in Piper Sandler Companies (NYSE:PIPR - Free Report) by 40.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,900 shares of the financial services provider's stock after selling 14,646 shares during the period. Russell Investments Group Ltd. owned 0.12% of Piper Sandler Companies worth $6,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in shares of 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 buying an additional 131 shares in the last quarter. West Oak Capital LLC lifted its position in 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 acquiring an additional 1,300 shares during the last quarter. Allworth Financial LP boosted its stake in Piper Sandler Companies by 238.8% in the fourth 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 grew its holdings in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after purchasing an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of 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 purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Price Performance

PIPR traded up $1.41 during trading on Friday, reaching $224.81. 109,100 shares of the company's stock were exchanged, compared to its average volume of 117,836. The company's fifty day simple moving average is $238.24 and its 200-day simple moving average is $272.84. The stock has a market capitalization of $3.99 billion, a P/E ratio of 22.00 and a beta of 1.38. Piper Sandler Companies has a 1 year low of $183.59 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the business earned $4.03 EPS. Equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.16%. Piper Sandler Companies's payout ratio is 25.44%.

Analyst Upgrades and Downgrades

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

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.