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Calamos Advisors LLC reduced its position in shares of Piper Sandler Companies (NYSE:PIPR – Free Report) by 77.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,441 shares of the financial services provider’s stock after selling 8,240 shares during the period. Calamos Advisors LLC’s holdings in Piper Sandler Companies were worth $605,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of PIPR. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Piper Sandler Companies by 131.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 62 shares during the period. Park Square Financial Group LLC purchased a new stake in Piper Sandler Companies in the fourth quarter worth about $45,000. Lazard Asset Management LLC bought a new stake in Piper Sandler Companies during the 4th quarter valued at approximately $51,000. Parallel Advisors LLC boosted its position in Piper Sandler Companies by 28.6% during the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 48 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Piper Sandler Companies by 1,195.2% during the 1st quarter. Versant Capital Management Inc now owns 272 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 251 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PIPR has been the topic of several research reports. The Goldman Sachs Group cut their price objective on 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. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.
Read Our Latest Analysis on Piper Sandler Companies
Piper Sandler Companies Stock Performance
Piper Sandler Companies stock opened at $293.44 on Monday. The firm’s 50 day moving average price is $260.34. The company has a market cap of $5.21 billion, a PE ratio of 25.65 and a beta of 1.48. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $351.80.
Piper Sandler Companies (NYSE:PIPR – Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The firm had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. During the same period last year, the business earned $2.79 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.
Piper Sandler Companies Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. Piper Sandler Companies’s payout ratio is 22.73%.
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.
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