Stifel Financial Corp Has $786,000 Position in Piper Sandler Companies (NYSE:PIPR)

Stifel Financial Corp increased its holdings in Piper Sandler Companies (NYSE:PIPR - Free Report) by 227.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,619 shares of the financial services provider's stock after purchasing an additional 1,818 shares during the period. Stifel Financial Corp's holdings in Piper Sandler Companies were worth $786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Piper Sandler Companies during the 4th quarter worth about $68,696,000. Invesco Ltd. increased its holdings in shares of Piper Sandler Companies by 17.2% during the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock worth $209,312,000 after buying an additional 102,426 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Piper Sandler Companies by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock worth $618,974,000 after buying an additional 31,400 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Piper Sandler Companies in the fourth quarter valued at approximately $8,097,000. Finally, Raymond James Financial Inc. bought a new stake in Piper Sandler Companies during the 4th quarter worth approximately $7,464,000. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $251.44 on Friday. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.60 and a beta of 1.50. Piper Sandler Companies has a 52 week low of $201.97 and a 52 week high of $351.80.

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

Piper Sandler Companies Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is 22.73%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. The Goldman Sachs Group reduced their price objective 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. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

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.

Want to see what other hedge funds are holding PIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piper Sandler Companies (NYSE:PIPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.