682 Shares in Piper Sandler Companies (NYSE:PIPR) Acquired by Sage Rhino Capital LLC

Sage Rhino Capital LLC bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, Holdings Channel.com reports. The fund bought 682 shares of the financial services provider’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bailard Inc. acquired a new position in shares of Piper Sandler Companies in the 4th quarter worth approximately $260,000. Smartleaf Asset Management LLC lifted its holdings in Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after buying an additional 242 shares during the period. Fisher Asset Management LLC boosted its position in Piper Sandler Companies by 7.3% during the fourth quarter. Fisher Asset Management LLC now owns 155,909 shares of the financial services provider’s stock valued at $46,765,000 after acquiring an additional 10,588 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Piper Sandler Companies during the fourth quarter valued at $8,097,000. Finally, Illinois Municipal Retirement Fund raised its position in shares of Piper Sandler Companies by 3.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 8,935 shares of the financial services provider’s stock worth $2,680,000 after acquiring an additional 320 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $282.73 on Tuesday. The business has a 50-day simple moving average of $302.42 and a 200 day simple moving average of $308.43. Piper Sandler Companies has a one year low of $183.57 and a one year high of $351.80. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 27.66 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 last year, the business earned $4.03 EPS. On average, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd.

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.