Legato Capital Management LLC Has $1.90 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Legato Capital Management LLC raised its holdings in Piper Sandler Companies (NYSE:PIPR) by 63.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,318 shares of the financial services provider’s stock after acquiring an additional 2,456 shares during the quarter. Legato Capital Management LLC’s holdings in Piper Sandler Companies were worth $1,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PIPR. Cerity Partners LLC increased its position in shares of 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 during the period. Barclays PLC increased its position in shares of 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 buying an additional 24,388 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 buying an additional 2,689 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Piper Sandler Companies in the third quarter worth $624,000. Finally, Citigroup Inc. grew its holdings in Piper Sandler Companies by 63.4% in 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 period. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Down 1.4 %

Piper Sandler Companies stock opened at $304.29 on Wednesday. Piper Sandler Companies has a 1-year low of $177.80 and a 1-year high of $351.80. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 29.77 and a beta of 1.46. The firm’s fifty day moving average price is $305.89 and its two-hundred day moving average price is $315.99.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data 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 net margin of 11.87% and a return on equity of 17.00%. During the same period last year, the business earned $4.03 EPS. On average, research analysts forecast 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. Shareholders 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 0.85%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report 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.