Prudential Financial Inc. Buys 88 Shares of Piper Sandler Companies (NYSE:PIPR)

Prudential Financial Inc. grew its stake in Piper Sandler Companies (NYSE:PIPR) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,882 shares of the financial services provider’s stock after purchasing an additional 88 shares during the quarter. Prudential Financial Inc. owned approximately 0.29% of Piper Sandler Companies worth $15,562,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Piper Sandler Companies by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock valued at $618,974,000 after buying an additional 31,400 shares during the last quarter. LPL Financial LLC grew its position in shares of Piper Sandler Companies by 62.5% in the fourth quarter. LPL Financial LLC now owns 5,617 shares of the financial services provider’s stock valued at $1,685,000 after purchasing an additional 2,161 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Piper Sandler Companies during the fourth quarter worth approximately $1,080,000. Teacher Retirement System of Texas lifted its holdings in Piper Sandler Companies by 53.9% during the 4th quarter. Teacher Retirement System of Texas now owns 8,981 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 3,146 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Piper Sandler Companies in the 4th quarter valued at $605,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $253.93 on Friday. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 24.85 and a beta of 1.46. The stock has a fifty day moving average price of $264.48 and a 200-day moving average price of $290.06.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same quarter in the previous year, the business earned $4.03 earnings per share. Research 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Analysts Set New Price Targets

Several research firms have weighed in on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group decreased their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th.

Piper Sandler Companies Company 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.