Everence Capital Management Inc. Lowers Stake in Piper Sandler Companies (NYSE:PIPR)

Everence Capital Management Inc. decreased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 31.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,550 shares of the financial services provider’s stock after selling 1,180 shares during the quarter. Everence Capital Management Inc.’s holdings in Piper Sandler Companies were worth $765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its position in shares of Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 54 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Piper Sandler Companies by 18.6% during the 2nd quarter. Natixis Advisors LLC now owns 18,351 shares of the financial services provider’s stock worth $4,224,000 after acquiring an additional 2,881 shares during the period. TD Asset Management Inc purchased a new stake in Piper Sandler Companies in the second quarter valued at approximately $483,000. Victory Capital Management Inc. increased its position in Piper Sandler Companies by 74.7% during the second quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock worth $3,033,000 after purchasing an additional 5,636 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Piper Sandler Companies by 1.7% during the second quarter. Arizona State Retirement System now owns 4,950 shares of the financial services provider’s stock worth $1,139,000 after purchasing an additional 83 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PIPR. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Up 0.7 %

PIPR opened at $301.43 on Friday. Piper Sandler Companies has a 52-week low of $162.50 and a 52-week high of $351.80. The company has a 50 day moving average of $313.26 and a two-hundred day moving average of $310.44. The company has a market cap of $5.36 billion, a P/E ratio of 32.20 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.86%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

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.