Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High – What’s Next?

Piper Sandler Companies (NYSE:PIPR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $302.49 and last traded at $299.31, with a volume of 3285 shares changing hands. The stock had previously closed at $301.43.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a report on Monday. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th.

Piper Sandler Companies Stock Performance

The stock has a market capitalization of $5.32 billion, a P/E ratio of 31.94 and a beta of 1.46. The firm has a fifty day simple moving average of $313.26.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) 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 the consensus estimate of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, sell-side analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its holdings in Piper Sandler Companies by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 54 shares during the period. Natixis Advisors LLC grew its stake in shares of Piper Sandler Companies by 18.6% during the 2nd quarter. Natixis Advisors LLC now owns 18,351 shares of the financial services provider’s stock valued at $4,224,000 after acquiring an additional 2,881 shares during the period. TD Asset Management Inc bought a new position in shares of Piper Sandler Companies during the 2nd quarter valued at approximately $483,000. Victory Capital Management Inc. raised its stake in Piper Sandler Companies by 74.7% during the 2nd quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock worth $3,033,000 after acquiring an additional 5,636 shares during the period. Finally, Arizona State Retirement System raised its stake in Piper Sandler Companies by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 4,950 shares of the financial services provider’s stock worth $1,139,000 after acquiring an additional 83 shares during the period. 72.79% of the stock is owned by 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.