Harvest Fund Management Co. Ltd Takes $605,000 Position in Piper Sandler Companies (NYSE:PIPR)

Harvest Fund Management Co. Ltd purchased a new position in shares of Piper Sandler Companies (NYSE:PIPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,015 shares of the financial services provider’s stock, valued at approximately $605,000.

Other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Piper Sandler Companies by 20.6% in the third quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock valued at $4,509,000 after acquiring an additional 2,713 shares during the period. KBC Group NV raised its position in Piper Sandler Companies by 20.9% in the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Piper Sandler Companies by 2.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 58 shares during the period. Natixis Advisors LLC boosted its stake in Piper Sandler Companies by 8.1% during the 3rd quarter. Natixis Advisors LLC now owns 19,838 shares of the financial services provider’s stock worth $5,630,000 after purchasing an additional 1,487 shares during the period. Finally, King Luther Capital Management Corp grew its position in Piper Sandler Companies by 1.5% during the 3rd quarter. King Luther Capital Management Corp now owns 18,678 shares of the financial services provider’s stock worth $5,301,000 after purchasing an additional 268 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $257.35 on Friday. The stock has a market capitalization of $4.56 billion, a P/E ratio of 25.18 and a beta of 1.46. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80. The company’s fifty day moving average is $272.95 and its two-hundred day moving average is $294.01.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $4.03 EPS. Sell-side analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

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.