Envestnet Asset Management Inc. Increases Stock Position in Piper Sandler Companies (NYSE:PIPR)

Envestnet Asset Management Inc. grew its stake in Piper Sandler Companies (NYSE:PIPR) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 59,341 shares of the financial services provider’s stock after acquiring an additional 1,566 shares during the period. Envestnet Asset Management Inc. owned about 0.33% of Piper Sandler Companies worth $17,799,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Piper Sandler Companies by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock valued at $618,974,000 after purchasing an additional 31,400 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $107,184,000 after buying an additional 7,344 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Piper Sandler Companies by 2.3% in the fourth quarter. Alliancebernstein L.P. now owns 360,224 shares of the financial services provider’s stock valued at $108,049,000 after buying an additional 8,066 shares in the last quarter. Norges Bank purchased a new stake in shares of Piper Sandler Companies in the 4th quarter valued at $68,696,000. Finally, Stephens Investment Management Group LLC lifted its stake 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 worth $64,355,000 after acquiring an additional 6,970 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their target price on 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. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Piper Sandler Companies Price Performance

PIPR opened at $224.18 on Wednesday. The business has a fifty day moving average price of $241.82 and a 200 day moving average price of $275.81. Piper Sandler Companies has a 12 month low of $183.58 and a 12 month high of $351.80. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 21.94 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, 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 prior year, the firm earned $4.03 earnings per share. On average, research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

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.