KLP Kapitalforvaltning AS Purchases New Holdings in Piper Sandler Companies (NYSE:PIPR)

KLP Kapitalforvaltning AS purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,600 shares of the financial services provider’s stock, valued at approximately $1,080,000.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after buying an additional 131 shares during the last quarter. West Oak Capital LLC lifted its stake 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 valued at $45,000 after acquiring an additional 1,300 shares during the last quarter. Allworth Financial LP grew its position in shares of Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC increased its stake 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 worth $83,000 after purchasing an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings 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 valued at $94,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 2.7 %

Shares of PIPR stock opened at $247.06 on Monday. Piper Sandler Companies has a 52 week low of $183.58 and a 52 week high of $351.80. The company has a market cap of $4.38 billion, a P/E ratio of 24.17 and a beta of 1.46. The business’s 50-day moving average is $262.84.

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 analysts’ consensus estimates 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 previous year, the firm earned $4.03 earnings per share. As a group, equities research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PIPR. The Goldman Sachs Group reduced their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a 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 cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

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.