Piper Sandler Companies (NYSE:PIPR) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its position in Piper Sandler Companies (NYSE:PIPR) by 14.8% during the fourth quarter, Holdings Channel reports. The firm owned 14,873 shares of the financial services provider’s stock after selling 2,588 shares during the period. Orion Portfolio Solutions LLC’s holdings in Piper Sandler Companies were worth $4,461,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of PIPR. Pictet Asset Management Holding SA lifted its position in Piper Sandler Companies by 22.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,761 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 509 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Piper Sandler Companies in the 4th quarter valued at about $488,000. Norges Bank purchased a new stake in shares of Piper Sandler Companies in the fourth quarter worth about $68,696,000. EFG Asset Management North America Corp. acquired a new stake in Piper Sandler Companies during the fourth quarter worth about $1,246,000. Finally, Vanguard Group Inc. raised its position in Piper Sandler Companies by 1.5% during 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 acquiring an additional 31,400 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Down 2.7 %

Shares of PIPR stock opened at $247.06 on Monday. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The firm has a market cap of $4.38 billion, a P/E ratio of 24.17 and a beta of 1.46. The stock’s 50 day simple moving average is $262.84.

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 for the quarter, topping 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 quarter in the previous year, the firm earned $4.03 earnings per share. On average, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.05%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. 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. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

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.