Geode Capital Management LLC Sells 785 Shares of Piper Sandler Companies (NYSE:PIPR)

Geode Capital Management LLC lowered its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 0.2% during the fourth quarter, HoldingsChannel reports. The fund owned 376,801 shares of the financial services provider’s stock after selling 785 shares during the quarter. Geode Capital Management LLC’s holdings in Piper Sandler Companies were worth $113,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc increased its position in Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 131 shares during the period. Allworth Financial LP boosted its stake in Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after buying an additional 160 shares in the last quarter. GAMMA Investing LLC boosted its stake in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after buying an additional 60 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Piper Sandler Companies by 336.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after buying an additional 242 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in Piper Sandler Companies by 280.9% during the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock worth $102,000 after buying an additional 250 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $240.49 on Thursday. Piper Sandler Companies has a 52 week low of $183.58 and a 52 week high of $351.80. The company’s fifty day moving average is $246.26 and its 200-day moving average is $279.73. The company has a market capitalization of $4.26 billion, a PE ratio of 23.53 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating the consensus estimate 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 firm posted $4.03 EPS. On average, analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.08%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PIPR shares. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th.

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. 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.