Alliancebernstein L.P. Has $2.67 Million Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Alliancebernstein L.P. lessened its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 24,336 shares of the company’s stock after selling 512 shares during the period. Alliancebernstein L.P. owned approximately 0.13% of Piper Sandler Companies worth $2,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PIPR. Greenwich Wealth Management LLC increased its stake in Piper Sandler Companies by 49.7% during the first quarter. Greenwich Wealth Management LLC now owns 30,132 shares of the company’s stock valued at $3,304,000 after acquiring an additional 9,999 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Piper Sandler Companies by 3.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 33,391 shares of the company’s stock valued at $3,661,000 after purchasing an additional 1,096 shares during the period. Ziegler Capital Management LLC grew its stake in shares of Piper Sandler Companies by 34.8% in the 1st quarter. Ziegler Capital Management LLC now owns 14,147 shares of the company’s stock valued at $1,551,000 after purchasing an additional 3,655 shares during the period. US Bancorp DE grew its stake in shares of Piper Sandler Companies by 2.7% in the 1st quarter. US Bancorp DE now owns 15,582 shares of the company’s stock valued at $1,709,000 after purchasing an additional 416 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of Piper Sandler Companies in the 1st quarter valued at approximately $278,000. 64.30% of the stock is owned by institutional investors and hedge funds.

Shares of PIPR opened at $127.44 on Friday. The firm has a market cap of $2.33 billion, a P/E ratio of 19.49 and a beta of 1.34. The company has a quick ratio of 0.71, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. Piper Sandler Companies has a one year low of $53.89 and a one year high of $130.71. The stock has a 50 day simple moving average of $120.64.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Thursday, April 29th. The company reported $4.13 EPS for the quarter, topping the consensus estimate of $3.12 by $1.01. The business had revenue of $431.39 million for the quarter, compared to the consensus estimate of $305.08 million. Piper Sandler Companies had a return on equity of 25.36% and a net margin of 7.29%. Sell-side analysts anticipate that Piper Sandler Companies will post 11.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 11th. Shareholders of record on Friday, May 28th will be issued a dividend of $0.45 per share. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 27th. This represents a $1.80 annualized dividend and a yield of 1.41%. Piper Sandler Companies’s dividend payout ratio is currently 17.96%.

Separately, Zacks Investment Research upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research note on Thursday, May 6th.

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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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Institutional Ownership by Quarter for Piper Sandler Companies (NYSE:PIPR)

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