Modus Advisors LLC Invests $404,000 in Piper Sandler Companies (NYSE:PIPR)

Modus Advisors LLC acquired a new position in Piper Sandler Companies (NYSE:PIPR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,348 shares of the financial services provider’s stock, valued at approximately $404,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 60 shares in the last quarter. Tidal Investments LLC boosted its holdings in Piper Sandler Companies by 75.7% in the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock worth $1,732,000 after buying an additional 2,629 shares during the period. Arete Wealth Advisors LLC bought a new position in Piper Sandler Companies in the 3rd quarter worth $310,000. Coldstream Capital Management Inc. increased its stake in Piper Sandler Companies by 2.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after buying an additional 41 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Piper Sandler Companies by 2.0% during the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 0.4 %

Shares of PIPR traded down $1.14 during midday trading on Friday, reaching $298.17. 17,179 shares of the stock were exchanged, compared to its average volume of 30,699. The company’s 50 day moving average is $314.98 and its two-hundred day moving average is $309.79. The company has a market capitalization of $5.30 billion, a P/E ratio of 31.86 and a beta of 1.43. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week 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 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. On average, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

About Piper Sandler Companies

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.