Piper Sandler Companies (NYSE:PIPR) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 9.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 20,395 shares of the financial services provider’s stock after buying an additional 1,717 shares during the quarter. King Luther Capital Management Corp’s holdings in Piper Sandler Companies were worth $6,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PIPR. IFP Advisors Inc lifted its holdings in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 131 shares during the last quarter. West Oak Capital LLC raised its holdings in shares of Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,300 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 160 shares in the last quarter. GAMMA Investing LLC lifted its stake in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Piper Sandler Companies by 336.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after buying an additional 242 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PIPR has been the topic of several research reports. The Goldman Sachs Group upped their price target on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

PIPR stock opened at $250.91 on Wednesday. The firm has a market capitalization of $4.45 billion, a P/E ratio of 24.55 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80. The company’s 50 day simple moving average is $288.32 and its 200-day simple moving average is $301.54.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the business earned $4.03 EPS. Sell-side analysts predict that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

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.