Axiom Investors LLC DE Reduces Position in Piper Sandler Companies $PIPR

Axiom Investors LLC DE cut its position in Piper Sandler Companies (NYSE:PIPR) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,547 shares of the company’s stock after selling 7,629 shares during the period. Axiom Investors LLC DE’s holdings in Piper Sandler Companies were worth $17,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. New Age Alpha Advisors LLC increased its position in shares of Piper Sandler Companies by 1,783.0% in the 4th quarter. New Age Alpha Advisors LLC now owns 14,763 shares of the company’s stock valued at $5,015,000 after purchasing an additional 13,979 shares during the last quarter. Norges Bank purchased a new stake in shares of Piper Sandler Companies in the 4th quarter valued at approximately $79,239,000. TimesSquare Capital Management LLC increased its position in shares of Piper Sandler Companies by 13.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 93,893 shares of the company’s stock valued at $31,896,000 after purchasing an additional 11,033 shares during the last quarter. Fiera Capital Corp increased its position in shares of Piper Sandler Companies by 32.4% in the 4th quarter. Fiera Capital Corp now owns 108,167 shares of the company’s stock valued at $36,745,000 after purchasing an additional 26,500 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Piper Sandler Companies by 111.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 87,997 shares of the company’s stock valued at $24,458,000 after purchasing an additional 46,401 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Trading Up 2.9%

Shares of Piper Sandler Companies stock opened at $79.17 on Wednesday. The company has a fifty day simple moving average of $81.65 and a 200-day simple moving average of $82.60. Piper Sandler Companies has a 12-month low of $62.49 and a 12-month high of $95.07. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.55 and a beta of 1.41.

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

Piper Sandler Companies Increases Dividend

The business 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 represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.18. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 20.20%.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Company 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.