Cerity Partners LLC Reduces Stock Position in Piper Sandler Companies (NYSE:PIPR)

Cerity Partners LLC cut its stake in Piper Sandler Companies (NYSE:PIPR) by 14.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,647 shares of the financial services provider’s stock after selling 2,190 shares during the quarter. Cerity Partners LLC owned 0.07% of Piper Sandler Companies worth $3,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Piper Sandler Companies by 131.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. von Borstel & Associates Inc. bought a new position in shares of Piper Sandler Companies during the 1st quarter valued at $27,000. Park Square Financial Group LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter valued at $45,000. Lazard Asset Management LLC purchased a new position in shares of Piper Sandler Companies in the 4th quarter worth $51,000. Finally, Parallel Advisors LLC grew its holdings in shares of Piper Sandler Companies by 28.6% in the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 48 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PIPR shares. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. Wolfe Research raised shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price target for the company in a research report on Thursday, July 10th.

Piper Sandler Companies Stock Down 0.3%

Shares of Piper Sandler Companies stock opened at $312.64 on Friday. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $351.80. The stock’s fifty day simple moving average is $271.06. The stock has a market cap of $5.56 billion, a PE ratio of 27.33 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $1.24. The company had revenue of $357.27 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $2.79 EPS. On average, equities research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 22.73%.

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.