Legal & General Group Plc Has $13.87 Million Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Legal & General Group Plc reduced its position in Piper Sandler Companies (NYSE:PIPR) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 46,244 shares of the financial services provider’s stock after selling 1,122 shares during the period. Legal & General Group Plc’s holdings in Piper Sandler Companies were worth $13,871,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 31,400 shares during the last quarter. Invesco Ltd. raised its stake in Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock valued at $209,312,000 after acquiring an additional 102,426 shares during the period. Geode Capital Management LLC lifted its holdings in Piper Sandler Companies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after purchasing an additional 7,344 shares during the last quarter. Alliancebernstein L.P. boosted its position 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 purchasing an additional 8,066 shares during the period. Finally, Norges Bank acquired a new position in shares of Piper Sandler Companies in the fourth quarter valued at $68,696,000. Institutional investors own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PIPR shares. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group cut 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $224.18 on Wednesday. The firm has a 50-day moving average of $241.82 and a 200-day moving average of $275.81. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80. The stock has a market cap of $3.97 billion, a PE ratio of 21.94 and a beta of 1.38.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company posted $4.03 earnings per share. Equities research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.16%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

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.