Legato Capital Management LLC Purchases 2,456 Shares of Piper Sandler Companies (NYSE:PIPR)

Legato Capital Management LLC lifted its position in shares of Piper Sandler Companies (NYSE:PIPR) by 63.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,318 shares of the financial services provider’s stock after purchasing an additional 2,456 shares during the period. Legato Capital Management LLC’s holdings in Piper Sandler Companies were worth $1,895,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Piper Sandler Companies by 10.9% during the second quarter. AQR Capital Management LLC now owns 2,254 shares of the financial services provider’s stock worth $519,000 after buying an additional 222 shares during the last quarter. CWM LLC increased its holdings in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 shares during the last quarter. Creative Planning increased its holdings in Piper Sandler Companies by 34.8% during the third quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock worth $2,636,000 after buying an additional 2,399 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new stake in Piper Sandler Companies during the third quarter worth about $222,000. Finally, Blue Trust Inc. increased its holdings in Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after buying an additional 545 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PIPR shares. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

Piper Sandler Companies Stock Down 1.4 %

PIPR opened at $304.29 on Wednesday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 29.77 and a beta of 1.46. The firm has a 50-day moving average price of $305.89 and a 200-day moving average price of $315.99. Piper Sandler Companies has a twelve month low of $177.80 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period in the prior year, the business earned $4.03 earnings per share. On average, sell-side analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.85%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

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.