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.
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.
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