Lord Abbett & CO. LLC lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 54.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,561 shares of the company’s stock after buying an additional 42,031 shares during the period. Lord Abbett & CO. LLC owned about 0.67% of Piper Sandler Companies worth $16,554,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Piper Sandler Companies by 218.5% during the second quarter. FMR LLC now owns 207 shares of the company’s stock valued at $27,000 after buying an additional 142 shares during the last quarter. Liberty Wealth Management LLC lifted its holdings in Piper Sandler Companies by 12,854.8% during the second quarter. Liberty Wealth Management LLC now owns 4,016 shares of the company’s stock worth $31,000 after acquiring an additional 3,985 shares during the period. Obermeyer Wood Investment Counsel Lllp bought a new stake in Piper Sandler Companies during the third quarter worth $203,000. MML Investors Services LLC bought a new stake in Piper Sandler Companies during the second quarter worth $205,000. Finally, Virtu Financial LLC bought a new stake in Piper Sandler Companies during the second quarter worth $212,000. 64.29% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Thursday, December 30th. The Goldman Sachs Group began coverage on Piper Sandler Companies in a research report on Tuesday, September 21st. They set a “buy” rating and a $168.00 target price for the company. Wolfe Research assumed coverage on Piper Sandler Companies in a research report on Thursday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. Finally, JMP Securities upped their price target on Piper Sandler Companies from $183.00 to $194.00 and gave the stock a “market outperform” rating in a research note on Monday, January 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $186.00.
Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Thursday, October 28th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.78. Piper Sandler Companies had a return on equity of 32.32% and a net margin of 11.55%. The firm had revenue of $445.80 million during the quarter, compared to analysts’ expectations of $403.64 million. During the same quarter last year, the business posted $2.38 earnings per share. The firm’s revenue was up 46.8% on a year-over-year basis. As a group, equities research analysts anticipate that Piper Sandler Companies will post 19.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Tuesday, November 23rd were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Monday, November 22nd. Piper Sandler Companies’s payout ratio is currently 17.66%.
In other news, General Counsel John W. Geelan sold 2,500 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $179.41, for a total value of $448,525.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.80% of the stock is owned by insiders.
Piper Sandler Companies Company Profile
Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.
Read More: Retained Earnings
Want to see what other hedge funds are holding PIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piper Sandler Companies (NYSE:PIPR).
Receive News & Ratings for Piper Sandler Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piper Sandler Companies and related companies with MarketBeat.com's FREE daily email newsletter.