Piper Sandler Companies (NYSE:PIPR) Receives Average Rating of “Hold” from Brokerages

Shares of Piper Sandler Companies (NYSE:PIPR) have earned an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $392.00.

PIPR has been the topic of a number of research reports. Zacks Research cut shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Wolfe Research restated an “outperform” rating and issued a $398.00 price objective on shares of Piper Sandler Companies in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $361.91 on Friday. The company has a market capitalization of $6.40 billion, a P/E ratio of 27.27 and a beta of 1.54. The company’s 50-day moving average is $341.35 and its 200 day moving average is $331.71. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping the consensus estimate of $2.96 by $0.86. The business had revenue of $455.31 million for the quarter, compared to analyst estimates of $408.40 million. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 earnings per share. As a group, 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, December 12th. Investors of record on Tuesday, November 25th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.80 annualized dividend and a yield of 0.8%. Piper Sandler Companies’s dividend payout ratio (DPR) is 21.10%.

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 4,400 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 53,558 shares of the company’s stock, valued at $18,081,180.80. The trade was a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Debbra L. Schoneman sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total value of $825,825.00. Following the completion of the transaction, the president directly owned 2,896 shares of the company’s stock, valued at $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,267 shares of company stock worth $3,763,746. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co purchased a new stake in shares of Piper Sandler Companies in the second quarter worth about $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in Piper Sandler Companies during the 2nd quarter worth approximately $31,000. Whittier Trust Co. purchased a new stake in Piper Sandler Companies in the 3rd quarter worth approximately $31,000. AdvisorNet Financial Inc boosted its holdings in Piper Sandler Companies by 48.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 37 shares during the period. Finally, Danske Bank A S bought a new position in Piper Sandler Companies in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

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.