Hsbc Holdings PLC Lowers Stock Position in Piper Sandler Companies $PIPR

Hsbc Holdings PLC lessened its holdings in Piper Sandler Companies (NYSE:PIPR) by 72.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,071 shares of the company’s stock after selling 8,099 shares during the quarter. Hsbc Holdings PLC’s holdings in Piper Sandler Companies were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PIPR. Norges Bank acquired a new stake in shares of Piper Sandler Companies in the 4th quarter valued at approximately $79,239,000. Wellington Management Group LLP acquired a new position in Piper Sandler Companies during the third quarter worth $38,425,000. North Reef Capital Management LP grew its holdings in Piper Sandler Companies by 35.1% during the fourth quarter. North Reef Capital Management LP now owns 204,900 shares of the company’s stock worth $69,607,000 after acquiring an additional 53,193 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Piper Sandler Companies during the fourth quarter worth $17,712,000. Finally, Balyasny Asset Management L.P. raised its position in Piper Sandler Companies by 111.6% in the second quarter. Balyasny Asset Management L.P. now owns 87,997 shares of the company’s stock worth $24,458,000 after acquiring an additional 46,401 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Wednesday, May 20th. The Goldman Sachs Group reiterated a “buy” rating and issued a $97.00 price target on shares of Piper Sandler Companies in a report on Tuesday, April 14th. Finally, Zacks Research cut shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.06.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $72.06 on Tuesday. Piper Sandler Companies has a fifty-two week low of $68.70 and a fifty-two week high of $95.07. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. The stock’s fifty day moving average is $77.75 and its two-hundred day moving average is $81.20.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.15. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.The business had revenue of $469.54 million during the quarter, compared to the consensus estimate of $436.30 million. During the same quarter in the previous year, the company posted $4.09 EPS. The business’s revenue was up 32.7% on a year-over-year basis. As a group, sell-side analysts forecast that Piper Sandler Companies will post 4.57 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a dividend of $0.20 per share. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 29th. This represents a $0.80 annualized dividend and a yield of 1.1%. Piper Sandler Companies’s payout ratio is 20.20%.

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.