Piper Sandler Companies (NYSE:PIPR) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers lifted its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 88.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,108 shares of the financial services provider’s stock after acquiring an additional 989 shares during the quarter. Cetera Investment Advisers’ holdings in Piper Sandler Companies were worth $632,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PIPR. Quadrant Capital Group LLC raised its holdings in Piper Sandler Companies by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 37 shares in the last quarter. Arizona State Retirement System increased its position in shares of Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock worth $1,541,000 after purchasing an additional 40 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Piper Sandler Companies by 1.2% in the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 49 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 56 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Piper Sandler Companies by 4.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $250.12 on Tuesday. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 24.47 and a beta of 1.50. Piper Sandler Companies has a 1-year low of $201.97 and a 1-year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $1.24. The business had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, equities research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 1.04%. The ex-dividend date is Friday, May 30th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

Several brokerages recently weighed in on PIPR. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group decreased 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.

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.