Cerity Partners LLC Reduces Stock Position in Piper Sandler Companies (NYSE:PIPR)

Cerity Partners LLC cut its stake in Piper Sandler Companies (NYSE:PIPR) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,837 shares of the financial services provider’s stock after selling 1,223 shares during the quarter. Cerity Partners LLC’s holdings in Piper Sandler Companies were worth $4,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MML Investors Services LLC increased its holdings in Piper Sandler Companies by 4.3% during the 3rd quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 74 shares during the period. Barclays PLC grew its position in shares of Piper Sandler Companies by 307.2% during 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. Geode Capital Management LLC increased its holdings in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after purchasing an additional 7,344 shares during the period. Tidal Investments LLC raised its position in shares of Piper Sandler Companies by 75.7% in the third quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock worth $1,732,000 after buying an additional 2,629 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after buying an additional 60 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Down 1.9 %

PIPR opened at $219.13 on Monday. The business’s fifty day simple moving average is $244.15 and its 200 day simple moving average is $277.54. Piper Sandler Companies has a 52 week low of $183.58 and a 52 week high of $351.80. The stock has a market cap of $3.89 billion, a PE ratio of 21.44 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 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 quarter last year, the firm posted $4.03 EPS. As a group, equities analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued 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 dividend yield of 1.19%. Piper Sandler Companies’s payout ratio is 25.44%.

Wall Street Analyst Weigh In

PIPR has been the topic of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group dropped 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.

About Piper Sandler Companies

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.