Sage Rhino Capital LLC Buys New Shares in Piper Sandler Companies (NYSE:PIPR)

Sage Rhino Capital LLC purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 682 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other large investors have also recently added to or reduced their stakes in PIPR. Bailard Inc. bought a new stake in Piper Sandler Companies in the fourth quarter valued at $260,000. Smartleaf Asset Management LLC boosted its stake in shares of 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 purchasing an additional 242 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Piper Sandler Companies by 7.3% during the 4th quarter. Fisher Asset Management LLC now owns 155,909 shares of the financial services provider’s stock worth $46,765,000 after purchasing an additional 10,588 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Piper Sandler Companies during the 4th quarter worth about $8,097,000. Finally, Illinois Municipal Retirement Fund lifted its holdings in Piper Sandler Companies by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,935 shares of the financial services provider’s stock valued at $2,680,000 after purchasing an additional 320 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 2.4 %

Shares of NYSE PIPR opened at $282.73 on Tuesday. Piper Sandler Companies has a 1-year low of $183.57 and a 1-year high of $351.80. The company has a 50-day moving average of $302.42 and a two-hundred day moving average of $308.43. The company has a market cap of $5.03 billion, a PE ratio of 27.66 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating 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 last year, the company earned $4.03 EPS. As a group, equities research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Analyst Ratings Changes

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

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.