Truist Financial Corp Acquires 1,049 Shares of Piper Sandler Companies (NYSE:PIPR)

Truist Financial Corp grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,203 shares of the financial services provider’s stock after acquiring an additional 1,049 shares during the period. Truist Financial Corp owned about 0.14% of Piper Sandler Companies worth $7,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of Piper Sandler Companies by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 77,506 shares of the financial services provider’s stock valued at $23,248,000 after acquiring an additional 2,199 shares during the period. Allworth Financial LP grew its position in shares of Piper Sandler Companies by 238.8% during 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 during the period. Principal Securities Inc. boosted its holdings in Piper Sandler Companies by 280.9% in the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock worth $102,000 after buying an additional 250 shares during the period. Vicus Capital bought a new position in Piper Sandler Companies in the 4th quarter worth $207,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Piper Sandler Companies in the 4th quarter worth $3,293,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 3.4 %

Shares of PIPR stock opened at $287.97 on Friday. The stock has a market cap of $5.12 billion, a P/E ratio of 28.18 and a beta of 1.46. Piper Sandler Companies has a 52 week low of $183.25 and a 52 week high of $351.80. The company’s fifty day simple moving average is $308.16 and its two-hundred day simple moving average is $313.31.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly 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 net margin of 11.87% and a return on equity of 17.00%. During the same period in the previous year, the company posted $4.03 EPS. On average, analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is 25.44%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PIPR. The Goldman Sachs Group upped their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

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.