Ensign Peak Advisors Inc Has $2.61 Million Stock Position in Piper Sandler Companies (NYSE:PIPR)

Ensign Peak Advisors Inc raised its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 17.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,703 shares of the financial services provider’s stock after purchasing an additional 1,270 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Piper Sandler Companies were worth $2,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in shares of Piper Sandler Companies by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 37 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock worth $1,541,000 after acquiring an additional 40 shares in the last quarter. Lido Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 1.2% in the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 49 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 56 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Piper Sandler Companies by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,816 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 85 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

PIPR stock opened at $265.40 on Friday. Piper Sandler Companies has a fifty-two week low of $201.97 and a fifty-two week high of $351.80. The company has a market capitalization of $4.72 billion, a P/E ratio of 25.97 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The firm had revenue of $357.27 million during the quarter, compared to analysts’ expectations of $366.99 million. During the same quarter in the previous year, the company posted $2.79 EPS. Piper Sandler Companies’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, May 30th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 22.73%.

Analysts Set New Price Targets

PIPR has been the topic of several recent analyst reports. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. The Goldman Sachs Group reduced their target price on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a report on Friday, March 14th.

About Piper Sandler Companies

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.