Envestnet Portfolio Solutions Inc. Acquires 176 Shares of Piper Sandler Companies (NYSE:PIPR)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 10.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,805 shares of the financial services provider’s stock after purchasing an additional 176 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Piper Sandler Companies were worth $541,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Cerity Partners LLC lifted its holdings in Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after acquiring an additional 2,819 shares in the last quarter. Barclays PLC lifted its stake in Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after buying an additional 24,388 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after buying an additional 242 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Piper Sandler Companies during the third quarter worth $624,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Price Performance

Shares of PIPR opened at $268.70 on Wednesday. The company’s 50-day moving average is $267.95 and its 200-day moving average is $291.67. The firm has a market capitalization of $4.76 billion, a PE ratio of 26.29 and a beta of 1.46. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the firm posted $4.03 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Tuesday, March 4th. 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.