Cibc World Markets Corp Takes Position in Piper Sandler Companies (NYSE:PIPR)

Cibc World Markets Corp bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,624 shares of the financial services provider’s stock, valued at approximately $487,000.

A number of other institutional investors also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Piper Sandler Companies by 10.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,805 shares of the financial services provider’s stock worth $541,000 after buying an additional 176 shares in the last quarter. Vestcor Inc increased its holdings in Piper Sandler Companies by 25.9% in the 4th quarter. Vestcor Inc now owns 5,713 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 1,176 shares in the last quarter. Swiss National Bank increased its holdings in Piper Sandler Companies by 0.6% in the 4th quarter. Swiss National Bank now owns 34,800 shares of the financial services provider’s stock worth $10,438,000 after purchasing an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Piper Sandler Companies by 30.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 375 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 87 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Piper Sandler Companies by 9.2% in the 4th quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PIPR. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group decreased their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $259.10 on Friday. The stock’s 50-day moving average is $271.07 and its 200 day moving average is $292.71. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 25.35 and a beta of 1.46. Piper Sandler Companies has a one year low of $183.58 and a one year 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 (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $4.03 EPS. On average, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.00%. Piper Sandler Companies’s 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.