Piper Sandler Companies (NYSE:PIPR) Shares Sold by Destination Wealth Management

Destination Wealth Management trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR) by 27.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,486 shares of the financial services provider’s stock after selling 562 shares during the period. Destination Wealth Management’s holdings in Piper Sandler Companies were worth $446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PIPR. Arizona State Retirement System lifted its stake in shares of Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock worth $1,541,000 after acquiring an additional 40 shares during the period. 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 worth $524,000 after acquiring an additional 41 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of Piper Sandler Companies by 2.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 58 shares during the period. GAMMA Investing LLC lifted its stake in shares of Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 60 shares during the period. Finally, MML Investors Services LLC lifted its stake in shares of Piper Sandler Companies by 4.3% in 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 period. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

NYSE PIPR opened at $253.70 on Friday. The company’s 50 day simple moving average is $293.96 and its 200 day simple moving average is $304.17. Piper Sandler Companies has a 12 month low of $183.58 and a 12 month high of $351.80. The company has a market capitalization of $4.50 billion, a P/E ratio of 24.82 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping 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 period in the prior year, the company posted $4.03 EPS. On average, analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current 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 issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PIPR. The Goldman Sachs Group upped their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

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.