Jacobs Levy Equity Management Inc. Sells 52 Shares of Piper Sandler Companies (NYSE:PIPR)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,517 shares of the financial services provider’s stock after selling 52 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Piper Sandler Companies were worth $755,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 131 shares during the period. Allworth Financial LP lifted its position in 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 purchasing an additional 160 shares during the period. Smartleaf Asset Management LLC lifted its position in Piper Sandler Companies by 336.1% during 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 during the period. Principal Securities Inc. lifted its position in Piper Sandler Companies by 280.9% during the 4th quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 250 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position 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 period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $267.47 on Friday. The company has a market capitalization of $4.75 billion, a P/E ratio of 26.17 and a beta of 1.50. Piper Sandler Companies has a fifty-two week low of $201.97 and a fifty-two week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $2.85 by $1.24. The company had revenue of $357.27 million during the quarter, compared to analysts’ expectations of $366.99 million. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $2.79 EPS. On average, analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.97%. Piper Sandler Companies’s dividend payout ratio is presently 22.73%.

Analyst Ratings Changes

PIPR has been the topic of a number of research reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group cut 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.

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.