Should You Invest in Piper Sandler Companies (PIPR)?
Mairs & Power, an investment advisor, released the “Mairs & Power Small Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Mairs & Power Small Cap Fund was up 11.04% in 2023 compared to the S&P Small Cap 600 TR benchmark's 16.05% return, and the Morningstar U.S. Fund Small Blend's 16.03% gain. The performance of various sectors varied throughout the year, with several sectors experiencing increased volatility. The Fund's year-to-date underperformance compared to the benchmark can be attributed primarily to the strong performance of the Consumer Discretionary sector, in which the Fund has a significant underweight position. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Mairs & Power Small Cap Fund featured stocks such as Piper Sandler Companies (NYSE:PIPR) in the fourth quarter 2023 investor letter. Headquartered in Minneapolis, Minnesota, Piper Sandler Companies (NYSE:PIPR) operates as an investment bank and institutional securities firm. On February 1, 2024, Piper Sandler Companies (NYSE:PIPR) stock closed at $177.34 per share. The one-month return of Piper Sandler Companies (NYSE:PIPR) was 8.37%, and its shares gained 14.57% of their value over the last 52 weeks. Piper Sandler Companies (NYSE:PIPR) has a market capitalization of $3.141 billion.
Mairs & Power Small Cap Fund stated the following regarding Piper Sandler Companies (NYSE:PIPR) in its fourth quarter 2023 investor letter:
"We added several new positions to the Fund during 2023, including Piper Sandler Companies (NYSE:PIPR) which as discussed in a previous letter is a leading mid-market investment bank based in Minneapolis, MN. Piper has a strong franchise in investment banking, with particular strength in mergers and acquisition advisory services in which it is gaining market share, and now makes up over half of the company’s revenue. The company’s diversity of end markets drives through-cycle profitability, unlike some peers or previous eras in investment banking. Piper Sandler has a seasoned leadership team, strong franchises, and an attractive stock valuation, as well as being a counterbalance to other bank holdings which are far more interest rate sensitive."
An investment banker analyzing the latest financial data on a laptop.
Piper Sandler Companies (NYSE:PIPR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Piper Sandler Companies (NYSE:PIPR) at the end of third quarter which was 9 in the previous quarter.
We discussed Piper Sandler Companies (NYSE:PIPR) in another article and shared the list of stocks recently downgraded by analysts. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
