Cibc World Markets Corp Purchases New Holdings in Piper Sandler Companies (NYSE:PIPR)

Cibc World Markets Corp purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,624 shares of the financial services provider’s stock, valued at approximately $487,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Piper Sandler Companies by 10.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,805 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 176 shares during the last quarter. Vestcor Inc grew its holdings in Piper Sandler Companies by 25.9% during the 4th quarter. Vestcor Inc now owns 5,713 shares of the financial services provider’s stock valued at $1,714,000 after purchasing an additional 1,176 shares during the last quarter. Swiss National Bank grew its holdings in Piper Sandler Companies by 0.6% during the 4th quarter. Swiss National Bank now owns 34,800 shares of the financial services provider’s stock valued at $10,438,000 after purchasing an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Piper Sandler Companies by 30.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 87 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Piper Sandler Companies by 9.2% during the 4th quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 211 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $259.10 on Friday. The company has a 50 day moving average price of $271.07 and a 200-day moving average price of $292.71. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The stock has a market capitalization of $4.59 billion, a PE ratio of 25.35 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 firm posted $4.03 earnings per share. Equities research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were given a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.00%. Piper Sandler Companies’s payout ratio is 25.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PIPR. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their target price on shares of 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. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

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.