Piper Sandler Companies (NYSE:PIPR) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in Piper Sandler Companies (NYSE:PIPR) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,320 shares of the financial services provider’s stock after selling 359 shares during the period. Martingale Asset Management L P’s holdings in Piper Sandler Companies were worth $3,095,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PIPR. Norges Bank acquired a new stake in shares of Piper Sandler Companies in the fourth quarter worth approximately $68,696,000. Invesco Ltd. lifted its position in Piper Sandler Companies by 17.2% during the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock valued at $209,312,000 after buying an additional 102,426 shares in the last quarter. Vanguard Group Inc. lifted its position in 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 valued at $618,974,000 after buying an additional 31,400 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Piper Sandler Companies during the fourth quarter valued at approximately $8,097,000. Finally, Raymond James Financial Inc. acquired a new position in Piper Sandler Companies during the fourth quarter valued at approximately $7,464,000. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Up 14.1 %

NYSE PIPR opened at $240.49 on Thursday. The company’s fifty day simple moving average is $246.26 and its 200-day simple moving average is $279.73. Piper Sandler Companies has a 52 week low of $183.58 and a 52 week high of $351.80. The stock has a market cap of $4.26 billion, a P/E ratio of 23.53 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm earned $4.03 earnings per share. On average, research analysts expect 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 was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.08%. Piper Sandler Companies’s payout ratio is 25.44%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research 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.