BlackRock Inc. Raises Stock Position in Piper Sandler Companies (NYSE:PIPR)

BlackRock Inc. increased its stake in Piper Sandler Companies (NYSE:PIPR) by 7.5% during the 1st quarter, HoldingsChannel reports. The firm owned 2,476,632 shares of the company’s stock after buying an additional 172,091 shares during the period. BlackRock Inc. owned about 0.14% of Piper Sandler Companies worth $271,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PIPR. Norges Bank purchased a new stake in Piper Sandler Companies in the fourth quarter worth approximately $23,144,000. GW&K Investment Management LLC boosted its holdings in Piper Sandler Companies by 49.9% in the fourth quarter. GW&K Investment Management LLC now owns 402,952 shares of the company’s stock worth $40,658,000 after purchasing an additional 134,189 shares during the last quarter. Globeflex Capital L P purchased a new stake in Piper Sandler Companies in the fourth quarter worth approximately $2,200,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Piper Sandler Companies in the fourth quarter worth approximately $1,433,000. Finally, Morgan Stanley boosted its holdings in Piper Sandler Companies by 30.1% in the fourth quarter. Morgan Stanley now owns 49,520 shares of the company’s stock worth $4,996,000 after purchasing an additional 11,454 shares during the last quarter. Institutional investors own 64.30% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research note on Thursday, May 6th.

Shares of Piper Sandler Companies stock opened at $127.44 on Friday. The stock’s fifty day simple moving average is $120.64. The stock has a market cap of $2.33 billion, a PE ratio of 19.49 and a beta of 1.34. Piper Sandler Companies has a 1-year low of $53.89 and a 1-year high of $130.71. The company has a quick ratio of 0.71, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Thursday, April 29th. The company reported $4.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.12 by $1.01. The business had revenue of $431.39 million for the quarter, compared to analysts’ expectations of $305.08 million. Piper Sandler Companies had a net margin of 7.29% and a return on equity of 25.36%. On average, equities research analysts expect that Piper Sandler Companies will post 11.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 11th. Stockholders of record on Friday, May 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.41%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 27th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 17.96%.

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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

Featured Article: The Discount Rate – What You Need to Know

Want to see what other hedge funds are holding PIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piper Sandler Companies (NYSE:PIPR).

Institutional Ownership by Quarter for Piper Sandler Companies (NYSE:PIPR)

Receive News & Ratings for Piper Sandler Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piper Sandler Companies and related companies with MarketBeat.com's FREE daily email newsletter.