Allworth Financial LP Buys 160 Shares of Piper Sandler Companies (NYSE:PIPR)

Allworth Financial LP grew its stake in Piper Sandler Companies (NYSE:PIPR) by 238.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227 shares of the financial services provider’s stock after buying an additional 160 shares during the period. Allworth Financial LP’s holdings in Piper Sandler Companies were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PIPR. State Street Corp raised its stake in shares of Piper Sandler Companies by 0.3% during the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after acquiring an additional 2,137 shares in the last quarter. FMR LLC increased its holdings in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after buying an additional 205,584 shares during the period. Geode Capital Management LLC lifted its stake in shares of Piper Sandler Companies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Piper Sandler Companies by 3.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock valued at $64,355,000 after acquiring an additional 6,970 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after acquiring an additional 2,689 shares during the period. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $280.05 on Tuesday. Piper Sandler Companies has a 1 year low of $183.25 and a 1 year high of $351.80. The stock’s 50-day moving average is $307.16 and its 200 day moving average is $312.30. The company has a market cap of $4.98 billion, a PE ratio of 27.40 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its 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 quarter in the previous year, the firm earned $4.03 EPS. Analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.93%. Piper Sandler Companies’s dividend payout ratio is 25.44%.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd.

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.