Proficio Capital Partners LLC Makes New $8.10 Million Investment in Piper Sandler Companies (NYSE:PIPR)

Proficio Capital Partners LLC purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,996 shares of the financial services provider’s stock, valued at approximately $8,097,000.

Several other hedge funds also recently modified their holdings of the business. US Bancorp DE raised its stake in Piper Sandler Companies by 6.7% during the 3rd quarter. US Bancorp DE now owns 7,503 shares of the financial services provider’s stock valued at $2,130,000 after purchasing an additional 471 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Piper Sandler Companies by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 56 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Piper Sandler Companies during the third quarter valued at about $201,000. Crossmark Global Holdings Inc. raised its position in shares of Piper Sandler Companies by 42.0% during the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the financial services provider’s stock valued at $439,000 after buying an additional 458 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of Piper Sandler Companies in the third quarter valued at about $880,000. 72.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PIPR. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. 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 research report on Monday, February 3rd. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Trading Up 2.9 %

Shares of PIPR opened at $289.66 on Monday. The business’s 50-day simple moving average is $303.20. The company has a market capitalization of $5.15 billion, a PE ratio of 28.34 and a beta of 1.46. Piper Sandler Companies has a 12 month low of $183.57 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (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 quarter in the prior year, the company posted $4.03 earnings per share. On average, analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.90%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Piper Sandler Companies Company 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.