Dorsey & Whitney Trust CO LLC Trims Stake in Piper Sandler Companies (NYSE:PIPR)

Dorsey & Whitney Trust CO LLC trimmed its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,158 shares of the financial services provider’s stock after selling 570 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Piper Sandler Companies were worth $2,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC grew its position in Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after buying an additional 2,819 shares in the last quarter. Barclays PLC lifted its stake in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after purchasing an additional 24,388 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Piper Sandler Companies during the third quarter worth about $624,000. Finally, Citigroup Inc. lifted its stake in Piper Sandler Companies by 63.4% during the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after purchasing an additional 8,337 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Down 1.0 %

NYSE PIPR opened at $253.70 on Friday. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The stock has a 50-day moving average of $293.96 and a 200-day moving average of $303.65. The firm has a market cap of $4.50 billion, a PE ratio of 24.82 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period last year, the firm posted $4.03 earnings per share. As a group, equities research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

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. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their price target on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research note 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.