Sei Investments Co. Sells 16,502 Shares of Piper Sandler Companies (NYSE:PIPR)

Sei Investments Co. lessened its holdings in Piper Sandler Companies (NYSE:PIPR) by 25.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,588 shares of the financial services provider’s stock after selling 16,502 shares during the period. Sei Investments Co. owned about 0.27% of Piper Sandler Companies worth $14,574,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in Piper Sandler Companies by 0.8% in the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after buying an additional 40 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Piper Sandler Companies by 2.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 41 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. MML Investors Services LLC grew its position in Piper Sandler Companies by 4.3% during the 3rd quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 74 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Piper Sandler Companies by 30.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 2.7 %

Shares of PIPR stock opened at $247.06 on Friday. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 24.17 and a beta of 1.46. The stock has a 50-day moving average of $262.84 and a 200-day moving average of $289.27.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the firm posted $4.03 earnings per share. Sell-side analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.05%. Piper Sandler Companies’s payout ratio is 25.44%.

Wall Street Analyst Weigh In

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