Harvest Fund Management Co. Ltd Acquires New Holdings in Piper Sandler Companies (NYSE:PIPR)

Harvest Fund Management Co. Ltd bought a new position in Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,015 shares of the financial services provider’s stock, valued at approximately $605,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings 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 acquiring an additional 131 shares during the period. West Oak Capital LLC boosted its position in Piper Sandler Companies by 650.0% in the fourth 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 last quarter. Allworth Financial LP grew its stake in shares of Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 160 shares during the period. GAMMA Investing LLC increased 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 purchasing an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of 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 currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Trading Down 0.1 %

Shares of NYSE:PIPR opened at $257.35 on Friday. The stock has a 50 day moving average of $272.95 and a 200 day moving average of $294.01. The company has a market cap of $4.56 billion, a PE ratio of 25.18 and a beta of 1.46. Piper Sandler Companies has a 12-month low of $183.58 and a 12-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 analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period last year, the company earned $4.03 earnings per share. Equities research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.01%. Piper Sandler Companies’s payout ratio is presently 25.44%.

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.