Victory Capital Management Inc. Has $1.25 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Victory Capital Management Inc. reduced its position in shares of Piper Sandler Companies (NYSE:PIPR) by 60.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,054 shares of the financial services provider’s stock after selling 7,576 shares during the quarter. Victory Capital Management Inc.’s holdings in Piper Sandler Companies were worth $1,252,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in Piper Sandler Companies by 62.5% during the 4th quarter. LPL Financial LLC now owns 5,617 shares of the financial services provider’s stock worth $1,685,000 after purchasing an additional 2,161 shares in the last quarter. Norges Bank bought a new stake in Piper Sandler Companies during the 4th quarter worth approximately $68,696,000. New Age Alpha Advisors LLC bought a new stake in Piper Sandler Companies during the 4th quarter worth approximately $488,000. Pictet Asset Management Holding SA increased its holdings in Piper Sandler Companies by 22.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,761 shares of the financial services provider’s stock worth $828,000 after purchasing an additional 509 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Piper Sandler Companies by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,887 shares of the financial services provider’s stock worth $2,666,000 after purchasing an additional 678 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wolfe Research raised Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 target price for the company in a report on Thursday, July 10th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

Piper Sandler Companies Trading Up 0.6%

Piper Sandler Companies stock opened at $318.54 on Thursday. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $351.80. The firm has a 50 day moving average price of $279.27. The stock has a market capitalization of $5.66 billion, a P/E ratio of 27.84 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 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 business had revenue of $357.27 million for the quarter, compared to the consensus estimate of $366.99 million. During the same quarter in the prior year, the business earned $2.79 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts anticipate 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. Shareholders of record on Friday, May 30th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.82%. Piper Sandler Companies’s dividend payout ratio is currently 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.