Jacobs Levy Equity Management Inc. Has $755,000 Stake in Piper Sandler Companies (NYSE:PIPR)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Piper Sandler Companies (NYSE:PIPR) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,517 shares of the financial services provider’s stock after selling 52 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Piper Sandler Companies were worth $755,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in Piper Sandler Companies by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock valued at $226,000 after buying an additional 37 shares during the last quarter. Arizona State Retirement System raised its position in Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after buying an additional 40 shares during the last quarter. Lido Advisors LLC raised its position in Piper Sandler Companies by 1.2% in the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock valued at $1,255,000 after buying an additional 49 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock valued at $418,000 after buying an additional 56 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Piper Sandler Companies by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider’s stock valued at $545,000 after buying an additional 85 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Up 0.8%

Shares of NYSE:PIPR opened at $267.47 on Friday. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 26.17 and a beta of 1.50. Piper Sandler Companies has a 1 year low of $201.97 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $1.24. The firm had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. On average, equities analysts forecast 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 will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.97%. Piper Sandler Companies’s payout ratio is 22.73%.

Analysts Set New Price Targets

PIPR has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

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.