Geode Capital Management LLC Sells 785 Shares of Piper Sandler Companies (NYSE:PIPR)

Geode Capital Management LLC cut its holdings in Piper Sandler Companies (NYSE:PIPR) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,801 shares of the financial services provider’s stock after selling 785 shares during the quarter. Geode Capital Management LLC owned 2.12% of Piper Sandler Companies worth $113,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 131 shares during the period. West Oak Capital LLC raised its holdings in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,300 shares during the period. Allworth Financial LP raised its holdings in Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC raised its holdings in Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 60 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 242 shares during the period. 72.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of recent research reports. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group cut their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research note 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 PIPR stock opened at $240.49 on Thursday. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80. The firm has a market capitalization of $4.26 billion, a PE ratio of 23.53 and a beta of 1.38. The stock has a fifty day simple moving average of $246.26 and a two-hundred day simple moving average of $279.73.

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 for the quarter, beating 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 earnings per share. On average, sell-side analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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 dividend of $0.65 per share. 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 1.08%. Piper Sandler Companies’s payout ratio is 25.44%.

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.