Piper Sandler Companies (NYSE:PIPR) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group cut shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a neutral rating in a research report released on Monday,Briefing.com Automated Import reports. They currently have $317.00 price objective on the financial services provider’s stock.

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

Piper Sandler Companies Price Performance

PIPR opened at $301.43 on Monday. The stock has a 50-day simple moving average of $313.26. Piper Sandler Companies has a twelve month low of $162.50 and a twelve month high of $351.80. The stock has a market capitalization of $5.36 billion, a P/E ratio of 32.20 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies during the 3rd quarter valued at about $77,000. GAMMA Investing LLC lifted its position in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. CWM LLC grew 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 worth $88,000 after buying an additional 57 shares in the last quarter. KBC Group NV increased its holdings in shares of Piper Sandler Companies by 20.9% in the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Piper Sandler Companies by 486.6% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after buying an additional 545 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.