Piper Sandler Companies (NYSE:PIPR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 owned about 0.05% of Piper Sandler Companies worth $2,694,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. FMR LLC raised its position in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after acquiring an additional 205,584 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of Piper Sandler Companies during the 3rd quarter worth $14,645,000. Barclays PLC increased its holdings in shares of Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Piper Sandler Companies in the 3rd quarter valued at about $6,106,000. Finally, Fisher Asset Management LLC boosted its holdings in Piper Sandler Companies by 9.0% during the third quarter. Fisher Asset Management LLC now owns 145,321 shares of the financial services provider’s stock worth $41,244,000 after buying an additional 11,964 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Trading Down 2.0 %

Shares of PIPR opened at $313.12 on Monday. Piper Sandler Companies has a 12-month low of $177.80 and a 12-month high of $351.80. The firm has a market capitalization of $5.57 billion, a PE ratio of 30.64 and a beta of 1.46. The business’s 50-day simple moving average is $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 (EPS) 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 quarter in the prior year, the company posted $4.03 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.83%. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

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.