State of Alaska Department of Revenue Lowers Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

State of Alaska Department of Revenue lessened its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 8,982 shares of the financial services provider’s stock after selling 54 shares during the quarter. State of Alaska Department of Revenue’s holdings in Piper Sandler Companies were worth $2,694,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in shares of Piper Sandler Companies by 10.9% during the 2nd quarter. AQR Capital Management LLC now owns 2,254 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 222 shares during the period. CWM LLC raised its stake in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares during the period. Oliver Luxxe Assets LLC boosted its holdings in shares of Piper Sandler Companies by 84.5% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 11,202 shares of the financial services provider’s stock valued at $3,179,000 after purchasing an additional 5,129 shares during the last quarter. Creative Planning grew its stake in shares of Piper Sandler Companies by 34.8% during the 3rd quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock valued at $2,636,000 after buying an additional 2,399 shares during the period. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Piper Sandler Companies during the 3rd quarter worth $222,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Price Performance

PIPR opened at $313.12 on Monday. The firm’s 50 day moving average price is $305.09. Piper Sandler Companies has a 52-week low of $177.80 and a 52-week high of $351.80. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 30.64 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released 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 net margin of 11.87% and a return on equity of 17.00%. During the same quarter in the prior year, the business posted $4.03 EPS. As a group, analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

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.