C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Piper Sandler Companies (NYSE:PIPR)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,980 shares of the financial services provider’s stock, valued at approximately $3,293,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned 0.06% of Piper Sandler Companies at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PIPR. State Street Corp increased its position in Piper Sandler Companies by 0.3% during the 3rd 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 period. FMR LLC increased its position in Piper Sandler Companies by 49.0% during the 3rd 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% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after purchasing an additional 7,344 shares during the period. Stephens Investment Management Group LLC increased its position in Piper Sandler Companies by 3.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after purchasing an additional 6,970 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Up 1.7 %

Shares of PIPR stock opened at $305.80 on Tuesday. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 29.92 and a beta of 1.46. Piper Sandler Companies has a 52 week low of $182.84 and a 52 week high of $351.80. The firm has a 50 day moving average of $307.62 and a 200-day moving average of $315.10.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $4.03 earnings per share. Analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued 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 is currently 25.44%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased 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. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies 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.