Piper Sandler Companies (NYSE:PIPR) Stock Price Down 2.8% – Time to Sell?

Piper Sandler Companies (NYSE:PIPR)’s share price dropped 2.8% during mid-day trading on Tuesday . The company traded as low as $310.96 and last traded at $312.19. Approximately 94,825 shares traded hands during trading, an increase of 17% from the average daily volume of 80,976 shares. The stock had previously closed at $321.34.

Analyst Ratings Changes

Several research firms have recently commented on PIPR. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

The business has a 50-day simple moving average of $333.27 and a two-hundred day simple moving average of $305.14. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 33.35 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. As a group, equities analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 74 shares during the last quarter. nVerses Capital LLC increased its stake in shares of Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas acquired a new stake in Piper Sandler Companies during the 3rd quarter worth approximately $77,000. CWM LLC boosted its stake in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the period. Finally, KBC Group NV boosted its stake in Piper Sandler Companies by 20.9% in the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.