Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High at $158.23

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Thursday . The company traded as high as $158.23 and last traded at $157.77, with a volume of 17 shares. The stock had previously closed at $153.96.

PIPR has been the subject of a number of analyst reports. JMP Securities boosted their price target on Piper Sandler Companies from $138.00 to $172.00 in a report on Monday, August 2nd. Zacks Investment Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 30th. The Goldman Sachs Group initiated coverage on Piper Sandler Companies in a research report on Tuesday, September 21st. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Northland Securities reaffirmed a “buy” rating and issued a $161.00 price objective on shares of Piper Sandler Companies in a research report on Thursday, September 16th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Piper Sandler Companies has a consensus rating of “Buy” and a consensus price target of $158.00.

The firm has a market cap of $2.86 billion, a PE ratio of 14.91 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.83. The stock has a 50-day moving average price of $141.94 and a 200 day moving average price of $129.28.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Thursday, July 29th. The company reported $5.37 EPS for the quarter, beating the Zacks’ consensus estimate of $3.45 by $1.92. The business had revenue of $511.34 million during the quarter, compared to the consensus estimate of $380.04 million. Piper Sandler Companies had a return on equity of 30.30% and a net margin of 10.47%. As a group, equities research analysts anticipate that Piper Sandler Companies will post 17.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 27th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Thursday, August 26th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.45. Piper Sandler Companies’s payout ratio is 21.96%.

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 4,496 shares of the business’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $143.33, for a total transaction of $644,411.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan J. Doyle sold 5,047 shares of the business’s stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $135.02, for a total value of $681,445.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,348 shares of company stock valued at $4,792,144. 3.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Brinker Capital Investments LLC boosted its position in shares of Piper Sandler Companies by 148.1% in the second quarter. Brinker Capital Investments LLC now owns 24,523 shares of the company’s stock worth $3,177,000 after buying an additional 14,639 shares during the period. Shell Asset Management Co. lifted its stake in shares of Piper Sandler Companies by 5.7% in the second quarter. Shell Asset Management Co. now owns 5,181 shares of the company’s stock worth $671,000 after acquiring an additional 280 shares in the last quarter. Citadel Advisors LLC lifted its stake in shares of Piper Sandler Companies by 121.1% in the first quarter. Citadel Advisors LLC now owns 29,791 shares of the company’s stock worth $3,267,000 after acquiring an additional 16,316 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Piper Sandler Companies by 4.6% in the first quarter. Principal Financial Group Inc. now owns 371,261 shares of the company’s stock worth $40,709,000 after acquiring an additional 16,174 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Piper Sandler Companies by 2.2% in the first quarter. Stephens Investment Management Group LLC now owns 491,548 shares of the company’s stock worth $53,898,000 after acquiring an additional 10,750 shares in the last quarter. 64.32% of the stock is owned by institutional investors.

Piper Sandler Companies Company Profile (NYSE:PIPR)

Piper Sandler Cos. engages in the provision of investment banking and institutional securities services. It offers financial advisory services, equity and debt capital markets products, public finance services, equity research and institutional brokerage, fixed income services, and private equity strategies.

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