Piper Sandler Companies (NYSE:PIPR) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in Piper Sandler Companies (NYSE:PIPR) by 31.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,128 shares of the financial services provider’s stock after purchasing an additional 18,787 shares during the period. Envestnet Asset Management Inc. owned about 0.44% of Piper Sandler Companies worth $19,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PIPR. Norges Bank purchased a new stake in shares of Piper Sandler Companies during the fourth quarter worth $68,696,000. GAMMA Investing LLC increased its position in shares of Piper Sandler Companies by 39,239.4% during the first quarter. GAMMA Investing LLC now owns 108,970 shares of the financial services provider’s stock valued at $26,988,000 after acquiring an additional 108,693 shares during the last quarter. Invesco Ltd. increased its position in shares of Piper Sandler Companies by 17.2% during the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock valued at $209,312,000 after acquiring an additional 102,426 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Piper Sandler Companies by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock worth $618,974,000 after purchasing an additional 31,400 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Piper Sandler Companies during the fourth quarter worth about $7,464,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Ratings Changes

PIPR has been the topic of several analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. Wolfe Research upgraded shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 target price on the stock in a research report on Thursday, July 10th.

Piper Sandler Companies Trading Up 3.5%

Shares of NYSE PIPR opened at $307.63 on Thursday. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $351.80. The business’s fifty day moving average is $268.66. The firm has a market capitalization of $5.47 billion, a P/E ratio of 26.89 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $1.24. The company had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. Piper Sandler Companies had a return on equity of 18.32% and a net margin of 13.20%. Piper Sandler Companies’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.79 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies’s payout ratio is 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.