Piper Sandler Companies (NYSE:PIPR) Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 58.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 440 shares of the financial services provider’s stock after acquiring an additional 163 shares during the quarter. GAMMA Investing LLC’s holdings in Piper Sandler Companies were worth $109,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 242 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Piper Sandler Companies in the fourth quarter valued at $8,097,000. Arizona State Retirement System lifted its holdings in shares of Piper Sandler Companies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after purchasing an additional 40 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Piper Sandler Companies in the fourth quarter valued at $7,464,000. Finally, Amundi lifted its holdings in shares of Piper Sandler Companies by 194.3% in the fourth quarter. Amundi now owns 8,202 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 5,415 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Trading Up 0.2%

NYSE PIPR opened at $293.44 on Monday. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $351.80. The company’s 50-day moving average is $260.34. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 25.65 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share 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 for the quarter, compared to analyst estimates of $366.99 million. During the same period last year, the company earned $2.79 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. On average, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.65 per share. The ex-dividend date was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. Piper Sandler Companies’s dividend payout ratio is presently 22.73%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. The Goldman Sachs Group cut their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a report on Friday, March 14th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

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.