Burney Co. Sells 662 Shares of Piper Sandler Companies (NYSE:PIPR)

Burney Co. lessened its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 26.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,857 shares of the financial services provider’s stock after selling 662 shares during the quarter. Burney Co.’s holdings in Piper Sandler Companies were worth $557,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PIPR. FMR LLC raised its stake in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at $14,645,000. Millennium Management LLC raised its position in shares of Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after buying an additional 30,942 shares in the last quarter. Barclays PLC grew its position in Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after acquiring an additional 24,388 shares in the last quarter. Finally, Sei Investments Co. grew its position in Piper Sandler Companies by 101.2% in the second quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock worth $10,282,000 after acquiring an additional 22,471 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

PIPR stock opened at $304.98 on Friday. The firm has a market cap of $5.42 billion, a P/E ratio of 32.58 and a beta of 1.46. The firm’s fifty day moving average is $299.61 and its 200 day moving average is $311.46. Piper Sandler Companies has a 52 week low of $166.01 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. As a group, analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.85%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PIPR. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price for the company. in a research report on Monday, January 6th.

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.