Piper Sandler Companies (NYSE:PIPR) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Piper Sandler Companies (NYSE:PIPR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $326.02 and traded as high as $350.36. Piper Sandler Companies shares last traded at $348.7190, with a volume of 88,451 shares trading hands.

Wall Street Analysts Forecast Growth

PIPR has been the subject of several analyst reports. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $368.00 to $386.00 in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Piper Sandler Companies presently has a consensus rating of “Moderate Buy” and an average price target of $362.50.

Piper Sandler Companies Stock Performance

The stock’s 50-day moving average price is $337.81 and its 200-day moving average price is $326.02. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 26.28 and a beta of 1.55.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.86. The firm had revenue of $455.31 million during the quarter, compared to the consensus estimate of $408.40 million. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.Piper Sandler Companies’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period last year, the business posted $2.57 EPS. Analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Tuesday, November 25th were given a $0.70 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 21.10%.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 4,400 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $337.60, for a total transaction of $1,485,440.00. Following the completion of the transaction, the chief executive officer directly owned 53,558 shares in the company, valued at approximately $18,081,180.80. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Debbra L. Schoneman sold 2,500 shares of Piper Sandler Companies stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total transaction of $825,825.00. Following the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. The trade was a 46.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,267 shares of company stock valued at $3,763,746 in the last 90 days. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Elevation Point Wealth Partners LLC raised its position in shares of Piper Sandler Companies by 2.2% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 1,410 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 30 shares during the last quarter. M&T Bank Corp increased its position in Piper Sandler Companies by 3.5% during the second quarter. M&T Bank Corp now owns 905 shares of the financial services provider’s stock worth $251,000 after buying an additional 31 shares in the last quarter. Blue Trust Inc. raised its stake in Piper Sandler Companies by 13.8% in the 2nd quarter. Blue Trust Inc. now owns 288 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 35 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of Piper Sandler Companies by 48.1% in the second quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after buying an additional 37 shares during the last quarter. Finally, CWM LLC raised its holdings in Piper Sandler Companies by 12.0% in the 2nd quarter. CWM LLC now owns 345 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 37 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Company Profile

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.