Goldman Sachs Group Inc. Decreases Holdings in Piper Sandler Companies $PIPR

Goldman Sachs Group Inc. lessened its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 291,977 shares of the company’s stock after selling 29,907 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Piper Sandler Companies were worth $99,188,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. M&T Bank Corp increased its holdings in Piper Sandler Companies by 3.5% during the second quarter. M&T Bank Corp now owns 905 shares of the company’s stock worth $251,000 after buying an additional 31 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Piper Sandler Companies by 89.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Piper Sandler Companies by 13.4% during the second quarter. Smartleaf Asset Management LLC now owns 330 shares of the company’s stock worth $93,000 after buying an additional 39 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Piper Sandler Companies by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,801 shares of the company’s stock worth $1,291,000 after buying an additional 44 shares during the last quarter. Finally, Choreo LLC increased its holdings in Piper Sandler Companies by 4.2% during the third quarter. Choreo LLC now owns 1,125 shares of the company’s stock worth $390,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Up 2.9%

Shares of NYSE:PIPR opened at $79.17 on Wednesday. The firm has a market capitalization of $5.62 billion, a PE ratio of 19.99, a P/E/G ratio of 1.55 and a beta of 1.41. Piper Sandler Companies has a twelve month low of $62.49 and a twelve month high of $95.07. The company has a 50-day moving average price of $81.65 and a two-hundred day moving average price of $82.60.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Thursday, May 7th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.15. The firm had revenue of $469.54 million during 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%. The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business earned $4.09 earnings per share. Analysts anticipate that Piper Sandler Companies will post 4.57 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.20 per share. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is 20.20%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Northland Securities upgraded shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price objective for the company in a report on Wednesday, March 4th. The Goldman Sachs Group restated a “buy” rating and set a $97.00 price objective on shares of Piper Sandler Companies in a report on Tuesday, April 14th. Wall Street Zen downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $95.06.

About Piper Sandler Companies

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.