Modus Advisors LLC Takes Position in Piper Sandler Companies (NYSE:PIPR)

Modus Advisors LLC acquired a new position in Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,348 shares of the financial services provider’s stock, valued at approximately $404,000.

Other hedge funds have also bought and sold shares of the company. nVerses Capital LLC boosted its holdings in shares of Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 100 shares during the period. USA Financial Formulas bought a new position in shares of Piper Sandler Companies in the third quarter worth $77,000. GAMMA Investing LLC raised its position in shares of Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after buying an additional 60 shares in the last quarter. CWM LLC boosted its stake in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares during the period. Finally, KBC Group NV grew its position in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PIPR shares. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th.

Piper Sandler Companies Price Performance

PIPR traded down $1.14 during trading on Friday, hitting $298.17. 17,179 shares of the stock traded hands, compared to its average volume of 30,699. The firm has a market capitalization of $5.30 billion, a P/E ratio of 31.86 and a beta of 1.43. The firm has a 50-day moving average of $314.98 and a 200 day moving average of $309.79. Piper Sandler Companies has a 12-month low of $162.50 and a 12-month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. The firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, equities analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.87%. Piper Sandler Companies’s payout ratio is presently 27.78%.

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.