Systematic Financial Management LP Buys 3,500 Shares of Piper Sandler Companies (NYSE:PIPR)

Systematic Financial Management LP boosted its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,842 shares of the financial services provider's stock after acquiring an additional 3,500 shares during the quarter. Piper Sandler Companies accounts for 1.5% of Systematic Financial Management LP's portfolio, making the stock its 5th largest position. Systematic Financial Management LP owned about 1.12% of Piper Sandler Companies worth $59,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of PIPR. Quadrant Capital Group LLC increased its holdings in Piper Sandler Companies by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 37 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Piper Sandler Companies by 0.8% during the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider's stock worth $1,541,000 after purchasing an additional 40 shares during the last quarter. Lido Advisors LLC increased its stake in shares of Piper Sandler Companies by 1.2% in the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider's stock valued at $1,255,000 after buying an additional 49 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Piper Sandler Companies by 4.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider's stock valued at $418,000 after buying an additional 56 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Piper Sandler Companies by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider's stock worth $545,000 after buying an additional 85 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PIPR. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th.

Piper Sandler Companies Stock Down 1.6%

Shares of PIPR stock traded down $4.37 on Tuesday, reaching $262.59. 128,696 shares of the stock were exchanged, compared to its average volume of 122,555. Piper Sandler Companies has a one year low of $201.97 and a one year high of $351.80. The company has a market cap of $4.67 billion, a P/E ratio of 25.69 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. During the same period last year, the company earned $2.79 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.99%. 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.