Ramirez Asset Management Inc. Buys Shares of 500 Piper Sandler Companies (NYSE:PIPR)

Ramirez Asset Management Inc. acquired a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 500 shares of the financial services provider’s stock, valued at approximately $150,000.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in Piper Sandler Companies by 21.3% in the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 2,819 shares in the last quarter. Barclays PLC lifted its position in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 242 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Piper Sandler Companies in the third quarter worth $624,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Down 3.7 %

Piper Sandler Companies stock opened at $253.93 on Friday. The stock has a 50-day moving average price of $264.48 and a 200 day moving average price of $290.06. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.85 and a beta of 1.46. Piper Sandler Companies has a 52 week low of $183.58 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results 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 quarter in the prior year, the firm earned $4.03 earnings per share. Research analysts anticipate that Piper Sandler Companies will post 14.14 EPS 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 dividend of $0.65 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. Piper Sandler Companies’s payout ratio is currently 25.44%.

Analysts Set New Price Targets

PIPR has been the topic of several research analyst reports. The Goldman Sachs Group dropped their target price on 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. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

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.