Piper Sandler Companies (NYSE:PIPR) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 360,224 shares of the financial services provider’s stock after buying an additional 8,066 shares during the quarter. Alliancebernstein L.P. owned 2.03% of Piper Sandler Companies worth $108,049,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. Axiom Investors LLC DE raised its stake in shares of Piper Sandler Companies by 44.8% during the fourth quarter. Axiom Investors LLC DE now owns 55,770 shares of the financial services provider’s stock valued at $16,728,000 after purchasing an additional 17,261 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Piper Sandler Companies by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,887 shares of the financial services provider’s stock valued at $2,666,000 after purchasing an additional 678 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in Piper Sandler Companies during the 4th quarter worth $150,000. Level Four Advisory Services LLC acquired a new position in Piper Sandler Companies in the 4th quarter worth $307,000. Finally, Pictet Asset Management Holding SA boosted its position in Piper Sandler Companies by 22.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,761 shares of the financial services provider’s stock valued at $828,000 after buying an additional 509 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PIPR. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group dropped their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $259.03 on Thursday. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80. The firm’s 50-day simple moving average is $259.45 and its 200-day simple moving average is $287.41. The firm has a market cap of $4.59 billion, a PE ratio of 25.35 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $4.03 EPS. On average, equities analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

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.