SG Americas Securities LLC Purchases Shares of 3,000 Piper Sandler Companies (NYSE:PIPR)

SG Americas Securities LLC purchased a new stake in Piper Sandler Companies (NYSE:PIPR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,000 shares of the financial services provider’s stock, valued at approximately $743,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. boosted its holdings in Piper Sandler Companies by 280.9% in the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 250 shares in the last quarter. Allworth Financial LP boosted its holdings in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 160 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Piper Sandler Companies by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 77,506 shares of the financial services provider’s stock worth $23,248,000 after acquiring an additional 2,199 shares in the last quarter. Truist Financial Corp boosted its holdings in Piper Sandler Companies by 4.5% in the fourth quarter. Truist Financial Corp now owns 24,203 shares of the financial services provider’s stock worth $7,260,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Piper Sandler Companies by 13.3% in the fourth quarter. Handelsbanken Fonder AB now owns 4,272 shares of the financial services provider’s stock worth $1,281,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Up 0.3%

Piper Sandler Companies stock opened at $255.23 on Friday. Piper Sandler Companies has a one year low of $202.91 and a one year high of $351.80. The stock has a fifty day moving average of $252.92. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 22.31 and a beta of 1.47.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data 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. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. The company had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. During the same quarter last year, the company earned $2.79 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 22.73%.

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.