Should You Consider Adding Piper Sandler Companies (PIPR) to Your Portfolio?

Mairs & Power, an investment advisor, released “Mairs & Power Small Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 0.83% compared to a 2.57% return for the S&P Small Cap 600 TR benchmark and the Morningstar U.S. Fund Small Blend’s 3.17% return. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Mairs & Power Small Cap Fund highlighted stocks like Piper Sandler Companies (NYSE:PIPR) in the first quarter 2023 investor letter. Headquartered in Minneapolis, Minnesota, Piper Sandler Companies (NYSE:PIPR) operates as an investment bank and institutional securities firm. On June 13, 2023, Piper Sandler Companies (NYSE:PIPR) stock closed at $137.46 per share. One-month return of Piper Sandler Companies (NYSE:PIPR) was 6.44%, and its shares gained 19.30% of their value over the last 52 weeks. Piper Sandler Companies (NYSE:PIPR) has a market capitalization of $2.028 billion.

Mairs & Power Small Cap Fund made the following comment about Piper Sandler Companies (NYSE:PIPR) in its first quarter 2023 investor letter:

“During the first quarter, we added Piper Sandler Companies (NYSE:PIPR) in the Financials sector to the portfolio. Piper Sandler is a Minnesota-based investment bank, specializing in mergers and acquisition advisory services. The firm has shown meaningful organic and acquired growth in the last decade and has benefited from additional scale and breadth of services. The management team is very seasoned and has demonstrated an ability to punch above their weight, gaining market share, profitably operating throughout a business cycle, and doing so with far less committed capital. We believe Piper Sandler will continue to gain market share in their primary end markets of Industrials, Financials, Healthcare, Consumer, Technology and Energy, which will result in above-average revenue and earnings growth, and believe the stock offers some diversification within the Financials sector away from intertest rate sensitive banks.”

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Piper Sandler Companies (NYSE:PIPR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Piper Sandler Companies (NYSE:PIPR) at the end of first quarter 2023 which was 11 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 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.