C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $3.29 Million Investment in Piper Sandler Companies (NYSE:PIPR)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,980 shares of the financial services provider’s stock, valued at approximately $3,293,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in Piper Sandler Companies by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after acquiring an additional 2,819 shares during the period. Barclays PLC lifted its position in Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after acquiring an additional 24,388 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Piper Sandler Companies during the 3rd quarter worth about $624,000. Finally, Citigroup Inc. lifted its holdings in shares of Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after buying an additional 8,337 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PIPR shares. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Piper Sandler Companies Stock Up 1.7 %

Shares of PIPR stock opened at $305.80 on Tuesday. The stock has a market cap of $5.44 billion, a PE ratio of 29.92 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $182.84 and a 52-week high of $351.80. The business has a 50-day simple moving average of $307.62 and a 200-day simple moving average of $315.10.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly 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 period in the previous year, the business posted $4.03 earnings per share. Sell-side analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 0.85%. Piper Sandler Companies’s payout ratio is 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.