Vestcor Inc Boosts Stock Position in Piper Sandler Companies (NYSE:PIPR)

Vestcor Inc boosted its holdings in Piper Sandler Companies (NYSE:PIPR) by 25.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,713 shares of the financial services provider’s stock after buying an additional 1,176 shares during the quarter. Vestcor Inc’s holdings in Piper Sandler Companies were worth $1,714,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC increased 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 valued at $4,558,000 after buying an additional 2,819 shares during the last quarter. Barclays PLC boosted its stake in Piper Sandler Companies by 307.2% in 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 in 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. boosted its stake 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 valued at $58,245,000 after acquiring an additional 2,689 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Piper Sandler Companies in the third quarter valued at $624,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

PIPR has been the subject of several research analyst reports. 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 decreased their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research note on Friday. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $254.06 on Friday. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.86 and a beta of 1.46. The firm has a 50-day simple moving average of $280.51 and a 200-day simple moving average of $298.05.

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

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors 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 annualized dividend and a yield of 1.02%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Piper Sandler Companies 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.