The Goldman Sachs Group Issues Pessimistic Forecast for Piper Sandler Companies (NYSE:PIPR) Stock Price

Piper Sandler Companies (NYSE:PIPR) had its price objective reduced by The Goldman Sachs Group from $321.00 to $286.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the company. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock opened at $254.06 on Friday. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 24.86 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80. The stock has a 50-day simple moving average of $280.51 and a 200-day simple moving average of $297.56.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period last year, the company posted $4.03 earnings per share. As a group, equities research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Hedge Funds Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently bought and sold shares of PIPR. IFP Advisors Inc lifted its stake in shares of Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 131 shares during the period. West Oak Capital LLC lifted its stake in shares of Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,300 shares during the period. Park Square Financial Group LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at about $45,000. Lazard Asset Management LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at about $51,000. Finally, Allworth Financial LP lifted its stake in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

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.