Norges Bank Invests $79.24 Million in Piper Sandler Companies $PIPR

Norges Bank bought a new position in Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 233,255 shares of the company’s stock, valued at approximately $79,239,000.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Danske Bank A S bought a new stake in shares of Piper Sandler Companies in the 3rd quarter worth $35,000. Geneos Wealth Management Inc. grew its stake in shares of Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock worth $42,000 after acquiring an additional 54 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Piper Sandler Companies by 4,175.0% in the 4th quarter. Global Retirement Partners LLC now owns 171 shares of the company’s stock worth $58,000 after acquiring an additional 167 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Piper Sandler Companies in the 4th quarter valued at $70,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $76.55 on Friday. The company has a market capitalization of $5.44 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.54 and a beta of 1.41. The business has a fifty day moving average price of $81.49 and a two-hundred day moving average price of $82.68. Piper Sandler Companies has a 1 year low of $62.49 and a 1 year high of $95.07.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. The firm had revenue of $469.54 million during the quarter, compared to the consensus estimate of $436.30 million. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.The business’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 earned $4.09 EPS. Sell-side analysts anticipate that Piper Sandler Companies will post 4.57 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.20 per share. 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 is currently 20.20%.

Analyst Ratings Changes

PIPR has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Northland Securities upgraded Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price objective for the company in a research note on Wednesday, March 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Wednesday, May 20th. The Goldman Sachs Group restated a “buy” rating and issued a $97.00 price objective on shares of Piper Sandler Companies in a research note on Tuesday, April 14th. Finally, Zacks Research downgraded Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. 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 stock. According to MarketBeat, Piper Sandler Companies has a consensus rating of “Hold” and an average price target of $95.06.

Piper Sandler Companies 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.