State of Alaska Department of Revenue Trims Holdings in Piper Sandler Companies (NYSE:PIPR)

State of Alaska Department of Revenue reduced its stake in Piper Sandler Companies (NYSE:PIPR) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,982 shares of the financial services provider’s stock after selling 54 shares during the period. State of Alaska Department of Revenue’s holdings in Piper Sandler Companies were worth $2,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. grew its holdings in shares of Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 41 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 56 shares during the last quarter. CWM LLC grew its stake in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of Piper Sandler Companies by 2.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock worth $618,000 after buying an additional 58 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after buying an additional 60 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $313.12 on Monday. The firm has a market cap of $5.57 billion, a P/E ratio of 30.64 and a beta of 1.46. Piper Sandler Companies has a fifty-two week low of $177.80 and a fifty-two week high of $351.80. The firm has a 50 day moving average of $305.09.

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 period in the previous year, the firm earned $4.03 earnings per share. As a group, research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 0.83%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Analysts Set New Price Targets

PIPR has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Company 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.