Piper Sandler Companies (NYSE:PIPR) Receives $389.67 Consensus PT from Analysts

Piper Sandler Companies (NYSE:PIPR) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $389.6667.

A number of brokerages recently issued reports on PIPR. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $368.00 to $386.00 in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday, January 23rd. Wolfe Research restated an “outperform” rating and set a $398.00 price objective on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Bank of America began coverage on Piper Sandler Companies in a research report on Monday, January 26th. They set an “underperform” rating and a $385.00 price objective for the company.

Insider Activity

In other news, CFO Katherine Patricia Clune sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $324.69, for a total value of $443,851.23. Following the completion of the transaction, the chief financial officer owned 10,425 shares of the company’s stock, valued at $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Chad R. Abraham sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $336.21, for a total transaction of $1,008,630.00. Following the sale, the chief executive officer directly owned 53,558 shares in the company, valued at $18,006,735.18. The trade was a 5.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 8,767 shares of company stock worth $2,937,921. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its holdings in Piper Sandler Companies by 1.4% during the 4th quarter. Swiss National Bank now owns 34,880 shares of the company’s stock worth $11,849,000 after purchasing an additional 480 shares during the last quarter. Nuveen LLC increased its position in shares of Piper Sandler Companies by 4.9% during the fourth quarter. Nuveen LLC now owns 170,242 shares of the company’s stock worth $57,833,000 after buying an additional 7,950 shares during the period. Picton Mahoney Asset Management bought a new position in Piper Sandler Companies during the fourth quarter worth $1,194,000. Janney Montgomery Scott LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at $659,000. Finally, Deutsche Bank AG boosted its position in Piper Sandler Companies by 3.1% during the fourth quarter. Deutsche Bank AG now owns 14,465 shares of the company’s stock valued at $4,914,000 after acquiring an additional 433 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR traded down $17.73 during trading hours on Thursday, reaching $324.02. 88,214 shares of the stock were exchanged, compared to its average volume of 148,132. The stock’s fifty day simple moving average is $352.55 and its 200 day simple moving average is $340.04. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.99 and a beta of 1.53. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $380.26.

Piper Sandler Companies shares are set to split on the morning of Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, February 6th. The company reported $6.88 earnings per share for the quarter, topping the consensus estimate of $4.72 by $2.16. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 22.50%. The business had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. During the same quarter in the previous year, the company earned $4.80 EPS. The business’s revenue was up 27.4% on a year-over-year basis.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. Piper Sandler Companies’s dividend payout ratio is presently 17.71%.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.