Lazard Asset Management LLC Buys New Position in Piper Sandler Companies (NYSE:PIPR)

Lazard Asset Management LLC purchased a new stake in Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 173 shares of the financial services provider’s stock, valued at approximately $51,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ensign Peak Advisors Inc increased its stake in Piper Sandler Companies by 17.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 8,703 shares of the financial services provider’s stock valued at $2,610,000 after buying an additional 1,270 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Piper Sandler Companies by 48.0% in the fourth quarter. Fred Alger Management LLC now owns 76,357 shares of the financial services provider’s stock valued at $22,903,000 after acquiring an additional 24,757 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Piper Sandler Companies by 88.4% during the fourth quarter. Cetera Investment Advisers now owns 2,108 shares of the financial services provider’s stock valued at $632,000 after acquiring an additional 989 shares during the last quarter. Brevan Howard Capital Management LP lifted its holdings in Piper Sandler Companies by 139.8% during the fourth quarter. Brevan Howard Capital Management LP now owns 2,746 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 1,601 shares during the period. Finally, Captrust Financial Advisors boosted its position in Piper Sandler Companies by 31.9% in the fourth quarter. Captrust Financial Advisors now owns 3,100 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 749 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PIPR has been the subject of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th.

Piper Sandler Companies Trading Down 0.5%

Piper Sandler Companies stock opened at $250.12 on Monday. Piper Sandler Companies has a 12 month low of $201.97 and a 12 month high of $351.80. The company has a market capitalization of $4.44 billion, a P/E ratio of 24.47 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $1.24. The firm had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 earnings per share. On average, analysts predict 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 will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, May 30th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 22.73%.

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.