Prudential Financial Inc. Acquires 88 Shares of Piper Sandler Companies (NYSE:PIPR)

Prudential Financial Inc. boosted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,882 shares of the financial services provider’s stock after buying an additional 88 shares during the quarter. Prudential Financial Inc. owned approximately 0.29% of Piper Sandler Companies worth $15,562,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Piper Sandler Companies by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock valued at $618,974,000 after acquiring an additional 31,400 shares during the period. State Street Corp lifted its stake in Piper Sandler Companies by 0.3% in the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after purchasing an additional 2,137 shares during the last quarter. FMR LLC grew its holdings in Piper Sandler Companies by 49.0% during 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 during the period. Geode Capital Management LLC increased its position in Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after buying an additional 7,344 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in shares of Piper Sandler Companies by 3.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after buying an additional 6,970 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $253.93 on Friday. The company has a market cap of $4.50 billion, a P/E ratio of 24.85 and a beta of 1.46. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80. The stock’s fifty day moving average price is $264.48 and its two-hundred day moving average price is $290.06.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business posted $4.03 EPS. On average, analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Analyst Ratings Changes

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

Piper Sandler Companies Company 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.