Pinebridge Investments L.P. Purchases Shares of 8,377 Piper Sandler Companies (NYSE:PIPR)

Pinebridge Investments L.P. purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,377 shares of the financial services provider’s stock, valued at approximately $2,513,000.

Several other large investors have also recently added to or reduced their stakes in PIPR. IFP Advisors Inc raised its position in shares of Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after buying an additional 131 shares in the last quarter. West Oak Capital LLC raised its stake in Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,300 shares in the last quarter. Allworth Financial LP lifted its position in Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC grew its stake in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after buying an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in 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 buying an additional 242 shares during the period. Institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PIPR. 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. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $237.72 on Friday. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 23.26 and a beta of 1.38. Piper Sandler Companies has a 12 month low of $195.29 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results 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 in the prior year, the company earned $4.03 earnings per share. Equities research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Piper Sandler Companies 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.