Y Intercept Hong Kong Ltd Buys Shares of 20,051 Piper Sandler Companies $PIPR

Y Intercept Hong Kong Ltd bought a new position in Piper Sandler Companies (NYSE:PIPR) in the first quarter, Holdings Channel.com reports. The institutional investor bought 20,051 shares of the company’s stock, valued at approximately $1,535,000.

Several other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Piper Sandler Companies during the 4th quarter worth approximately $79,239,000. New Age Alpha Advisors LLC lifted its position in Piper Sandler Companies by 1,783.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 14,763 shares of the company’s stock valued at $5,015,000 after acquiring an additional 13,979 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in Piper Sandler Companies by 13.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 93,893 shares of the company’s stock valued at $31,896,000 after acquiring an additional 11,033 shares in the last quarter. Fiera Capital Corp boosted its stake in Piper Sandler Companies by 32.4% in the fourth quarter. Fiera Capital Corp now owns 108,167 shares of the company’s stock valued at $36,745,000 after acquiring an additional 26,500 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in Piper Sandler Companies by 11.9% in the fourth quarter. Kennedy Capital Management LLC now owns 92,339 shares of the company’s stock worth $31,368,000 after purchasing an additional 9,786 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

NYSE:PIPR traded down $1.22 during trading hours on Friday, hitting $72.22. 572,062 shares of the company were exchanged, compared to its average volume of 622,003. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.48 and a beta of 1.42. Piper Sandler Companies has a 52-week low of $68.70 and a 52-week high of $95.07. The company’s 50 day moving average price is $78.06 and its 200-day moving average price is $81.37.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. The business had revenue of $469.54 million for the quarter, compared to analyst estimates of $436.30 million. Piper Sandler Companies had a net margin of 13.94% and a return on equity of 21.09%. Piper Sandler Companies’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.09 EPS. On average, equities analysts predict that Piper Sandler Companies will post 4.57 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.17. Piper Sandler Companies’s payout ratio is currently 20.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Wednesday, May 20th. Wall Street Zen cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. The Goldman Sachs Group restated a “buy” rating and set a $97.00 target price on shares of Piper Sandler Companies in a research note on Tuesday, April 14th. Finally, Zacks Research lowered Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $95.06.

Piper Sandler Companies Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.