Goldman Sachs Group Inc. Sells 29,907 Shares of Piper Sandler Companies $PIPR

Goldman Sachs Group Inc. decreased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,977 shares of the company’s stock after selling 29,907 shares during the quarter. Goldman Sachs Group Inc. owned about 1.65% of Piper Sandler Companies worth $99,188,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Piper Sandler Companies by 89.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Danske Bank A S bought a new position in shares of Piper Sandler Companies in the third quarter valued at $35,000. Geneos Wealth Management Inc. lifted its stake in shares of Piper Sandler Companies by 46.6% in the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock valued at $42,000 after buying an additional 54 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Piper Sandler Companies by 4,175.0% in the fourth quarter. Global Retirement Partners LLC now owns 171 shares of the company’s stock valued at $58,000 after buying an additional 167 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Piper Sandler Companies in the fourth quarter valued at $70,000. 72.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $79.17 on Wednesday. The firm has a 50-day moving average of $81.65 and a 200-day moving average of $82.60. The company has a market cap of $5.62 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.55 and a beta of 1.41. Piper Sandler Companies has a one year low of $62.49 and a one year high of $95.07.

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

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.20 dividend. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th. Piper Sandler Companies’s dividend payout ratio is currently 20.20%.

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.