Burney Co. Has $557,000 Stock Position in Piper Sandler Companies (NYSE:PIPR)

Burney Co. lowered its stake in Piper Sandler Companies (NYSE:PIPR) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,857 shares of the financial services provider’s stock after selling 662 shares during the quarter. Burney Co.’s holdings in Piper Sandler Companies were worth $557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its position in shares of Piper Sandler Companies by 0.3% during the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after purchasing an additional 2,137 shares during the last quarter. FMR LLC grew its stake in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after buying an additional 205,584 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after buying an additional 7,344 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after buying an additional 2,689 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in Piper Sandler Companies by 3.4% during the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock worth $55,724,000 after acquiring an additional 6,507 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $304.98 on Friday. The business has a fifty day simple moving average of $299.61 and a two-hundred day simple moving average of $311.46. Piper Sandler Companies has a 1 year low of $166.01 and a 1 year high of $351.80. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 32.58 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, equities analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.85%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

PIPR has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective on the stock. in a research note on Monday, January 6th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

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.