Allspring Global Investments Holdings LLC Sells 16,133 Shares of Piper Sandler Companies (NYSE:PIPR)

Allspring Global Investments Holdings LLC decreased its position in Piper Sandler Companies (NYSE:PIPR) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,130 shares of the financial services provider’s stock after selling 16,133 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Piper Sandler Companies were worth $8,420,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Piper Sandler Companies by 0.3% during the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after acquiring an additional 2,137 shares during the last quarter. FMR LLC raised its position in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares during the period. Geode Capital Management LLC lifted its stake in shares of Piper Sandler Companies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after buying an additional 7,344 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in Piper Sandler Companies by 3.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock worth $64,355,000 after acquiring an additional 6,970 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $309.33 on Wednesday. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 30.27 and a beta of 1.46. The stock has a fifty day moving average of $308.44 and a 200-day moving average of $315.02. Piper Sandler Companies has a 52 week low of $182.84 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating 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 quarter last year, the business posted $4.03 EPS. As a group, equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Analyst Ratings Changes

PIPR has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

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.