Prudential Financial Inc. Raises Position in Piper Sandler Companies (NYSE:PIPR)

Prudential Financial Inc. raised its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,882 shares of the financial services provider’s stock after buying an additional 88 shares during the quarter. Prudential Financial Inc.’s holdings in Piper Sandler Companies were worth $15,562,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc increased its position in shares of Piper Sandler Companies by 2,183.3% in the fourth 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 last quarter. West Oak Capital LLC lifted its position in Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,300 shares during the last quarter. Allworth Financial LP grew its stake 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 buying an additional 160 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Piper Sandler Companies by 336.1% during the 4th 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 in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

PIPR stock opened at $253.93 on Friday. The firm has a market cap of $4.50 billion, a P/E ratio of 24.85 and a beta of 1.46. The firm’s fifty day moving average is $264.48 and its 200 day moving average is $290.06. Piper Sandler Companies has a 52 week low of $183.58 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) 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 in the previous year, the company earned $4.03 EPS. As a group, analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PIPR shares. The Goldman Sachs Group reduced their target price on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research 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.