Allspring Global Investments Holdings LLC Lowers Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR) by 16.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 50,948 shares of the financial services provider’s stock after selling 9,764 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Piper Sandler Companies were worth $8,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. purchased a new position in Piper Sandler Companies during the 3rd quarter valued at about $29,000. West Oak Capital LLC acquired a new stake in Piper Sandler Companies in the 4th quarter valued at about $33,000. Steward Partners Investment Advisory LLC raised its position in Piper Sandler Companies by 328.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 174 shares in the last quarter. Belpointe Asset Management LLC raised its position in Piper Sandler Companies by 67.0% in the 1st quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 138 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Piper Sandler Companies by 706.0% in the 2nd quarter. Stephens Inc. AR now owns 403 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 353 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the transaction, the president now owns 12,140 shares of the company’s stock, valued at $2,315,340.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the transaction, the president now owns 12,140 shares of the company’s stock, valued at $2,315,340.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan J. Doyle sold 2,013 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $179.79, for a total value of $361,917.27. Following the completion of the transaction, the insider now owns 166,214 shares in the company, valued at $29,883,615.06. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock valued at $9,838,711 over the last quarter. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PIPR shares. Northland Securities lowered Piper Sandler Companies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group increased their price target on Piper Sandler Companies from $171.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $185.58 on Wednesday. Piper Sandler Companies has a fifty-two week low of $120.97 and a fifty-two week high of $202.76. The firm has a market capitalization of $3.28 billion, a PE ratio of 37.57 and a beta of 1.42. The stock’s 50-day simple moving average is $194.75 and its 200-day simple moving average is $185.78.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, February 2nd. The financial services provider reported $4.03 earnings per share for the quarter, topping the consensus estimate of $2.61 by $1.42. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The business had revenue of $457.39 million for the quarter, compared to analyst estimates of $370.12 million. During the same quarter last year, the company earned $3.33 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that Piper Sandler Companies will post 11.17 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Friday, March 1st. Piper Sandler Companies’s dividend payout ratio (DPR) is 48.58%.

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.