Renaissance Technologies LLC Sells 1,700 Shares of Piper Sandler Companies (NYSE:PIPR)

Renaissance Technologies LLC cut its position in shares of Piper Sandler Companies (NYSE:PIPR) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,995 shares of the financial services provider’s stock after selling 1,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Piper Sandler Companies were worth $13,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PIPR. Invesco Ltd. grew its stake in shares of Piper Sandler Companies by 17.2% during the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock worth $209,312,000 after acquiring an additional 102,426 shares in the last quarter. Bank of Montreal Can grew its position in Piper Sandler Companies by 3.8% in the fourth quarter. Bank of Montreal Can now owns 2,466 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 90 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Piper Sandler Companies in the fourth quarter valued at $751,000. Quadrant Capital Group LLC increased its stake in Piper Sandler Companies by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock valued at $226,000 after buying an additional 37 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Piper Sandler Companies by 2.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 59,341 shares of the financial services provider’s stock worth $17,799,000 after buying an additional 1,566 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PIPR shares. The Goldman Sachs Group decreased their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a report on Friday, March 14th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $224.18 on Wednesday. The company’s 50-day moving average is $241.82 and its 200-day moving average is $275.81. The firm has a market capitalization of $3.97 billion, a PE ratio of 21.94 and a beta of 1.38. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week 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 for the quarter, topping 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 quarter in the prior year, the firm earned $4.03 EPS. As a group, analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared 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. This represents a $2.60 annualized dividend and a yield of 1.16%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is 25.44%.

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.