Piper Sandler Companies (NYSE:PIPR) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC cut its position in shares of Piper Sandler Companies (NYSE:PIPR) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 320,863 shares of the financial services provider’s stock after selling 63,148 shares during the quarter. Piper Sandler Companies accounts for 0.8% of GW&K Investment Management LLC’s investment portfolio, making the stock its 16th biggest holding. GW&K Investment Management LLC’s holdings in Piper Sandler Companies were worth $96,243,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PIPR. FMR LLC raised its stake in shares of Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after buying an additional 205,584 shares during the last quarter. Fred Alger Management LLC purchased a new position in Piper Sandler Companies during the 3rd quarter valued at about $14,645,000. Proficio Capital Partners LLC purchased a new position in Piper Sandler Companies during the 4th quarter valued at about $8,097,000. Barclays PLC raised 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 worth $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Piper Sandler Companies in the third quarter valued at about $6,106,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PIPR has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $281.29 on Friday. The stock has a market capitalization of $5.00 billion, a P/E ratio of 27.52 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. The firm’s 50-day moving average is $303.87 and its two-hundred day moving average is $310.30.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) 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 last year, the company earned $4.03 EPS. As a group, analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 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.