Norges Bank Purchases Shares of 229,024 Piper Sandler Companies (NYSE:PIPR)

Norges Bank acquired a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the fourth quarter, Holdings Channel reports. The fund acquired 229,024 shares of the financial services provider’s stock, valued at approximately $68,696,000.

Other large investors also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of 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 valued at $43,000 after buying an additional 131 shares during the last quarter. Allworth Financial LP boosted its stake in Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 160 shares during the last quarter. GAMMA Investing LLC boosted its stake in Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Piper Sandler Companies by 336.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 242 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Piper Sandler Companies by 280.9% in the fourth quarter. Principal Securities Inc. now owns 339 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 250 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Down 11.2 %

PIPR stock opened at $229.97 on Friday. The firm has a market cap of $4.08 billion, a PE ratio of 22.50 and a beta of 1.38. The business has a 50 day moving average of $257.41 and a 200-day moving average of $286.41. Piper Sandler Companies has a 12-month low of $183.58 and a 12-month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced 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 return on equity of 17.00% and a net margin of 11.87%. During the same period in the prior year, the firm posted $4.03 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group dropped 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 report on Friday, March 14th.

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.