Alliancebernstein L.P. decreased its stake in Piper Sandler Companies (NYSE:PIPR) by 2.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 24,336 shares of the company’s stock after selling 512 shares during the quarter. Alliancebernstein L.P.’s holdings in Piper Sandler Companies were worth $2,668,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Veriti Management LLC acquired a new stake in Piper Sandler Companies during the fourth quarter worth approximately $76,000. Creative Planning bought a new position in shares of Piper Sandler Companies during the fourth quarter worth approximately $203,000. 6 Meridian bought a new position in shares of Piper Sandler Companies during the first quarter worth approximately $206,000. Schulhoff & Co. Inc. bought a new position in shares of Piper Sandler Companies during the fourth quarter worth approximately $217,000. Finally, NorthRock Partners LLC bought a new position in shares of Piper Sandler Companies during the fourth quarter worth approximately $253,000. Institutional investors and hedge funds own 64.30% of the company’s stock.
Separately, Zacks Investment Research raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Thursday, May 6th.
Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Thursday, April 29th. The company reported $4.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $1.01. The business had revenue of $431.39 million for the quarter, compared to analysts’ expectations of $305.08 million. Piper Sandler Companies had a net margin of 7.29% and a return on equity of 25.36%. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 11th. Shareholders of record on Friday, May 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, May 27th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.40. Piper Sandler Companies’s payout ratio is presently 17.96%.
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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.
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