Dorsey & Whitney Trust CO LLC Sells 570 Shares of Piper Sandler Companies (NYSE:PIPR)

Dorsey & Whitney Trust CO LLC decreased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 8,158 shares of the financial services provider’s stock after selling 570 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Piper Sandler Companies were worth $2,447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Edgestream Partners L.P. raised its position in Piper Sandler Companies by 76.6% during the 4th quarter. Edgestream Partners L.P. now owns 18,602 shares of the financial services provider’s stock valued at $5,580,000 after purchasing an additional 8,068 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in Piper Sandler Companies during the 4th quarter valued at approximately $3,770,000. Raymond James Financial Inc. bought a new position in Piper Sandler Companies during the 4th quarter valued at approximately $7,464,000. Arizona State Retirement System grew its holdings in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock worth $1,541,000 after acquiring an additional 40 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter worth approximately $8,097,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 1.0 %

Piper Sandler Companies stock opened at $253.70 on Friday. The company has a market capitalization of $4.50 billion, a P/E ratio of 24.82 and a beta of 1.46. The stock’s 50 day moving average is $293.96 and its 200 day moving average is $303.65. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $4.03 EPS. As a group, equities analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. Piper Sandler Companies’s payout ratio is currently 25.44%.

Analyst Upgrades and Downgrades

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

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.