Cynosure Group LLC Sells 368 Shares of Piper Sandler Companies (NYSE:PIPR)

Cynosure Group LLC cut its holdings in Piper Sandler Companies (NYSE:PIPR) by 28.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 928 shares of the financial services provider’s stock after selling 368 shares during the period. Cynosure Group LLC’s holdings in Piper Sandler Companies were worth $278,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Piper Sandler Companies by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock valued at $618,974,000 after purchasing an additional 31,400 shares in the last quarter. State Street Corp grew its holdings in shares of Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after acquiring an additional 2,137 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Piper Sandler Companies by 2.3% during the fourth quarter. Alliancebernstein L.P. now owns 360,224 shares of the financial services provider’s stock worth $108,049,000 after acquiring an additional 8,066 shares in the last quarter. Finally, Norges Bank acquired a new position in Piper Sandler Companies during the fourth quarter valued at approximately $68,696,000. Institutional investors own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Down 11.2 %

Shares of NYSE PIPR opened at $229.97 on Friday. The business’s 50 day moving average price is $257.41 and its two-hundred day moving average price is $286.41. The company has a market cap of $4.08 billion, a PE ratio of 22.50 and a beta of 1.38. Piper Sandler Companies has a twelve month low of $183.58 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the firm posted $4.03 EPS. As a group, research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

About Piper Sandler Companies

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.