Piper Sandler Companies (NYSE:PIPR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Piper Sandler Companies (NYSE:PIPR) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $95.3125.

Several research firms recently issued reports on PIPR. Wolfe Research reiterated an “outperform” rating and issued a $99.50 price objective on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Northland Securities raised Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 target price for the company in a report on Wednesday, March 4th. The Goldman Sachs Group decreased their target price on Piper Sandler Companies from $115.25 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, February 24th. Finally, Bank of America started coverage on Piper Sandler Companies in a research report on Monday, January 26th. They set an “underperform” rating and a $96.25 price target for the company.

Insider Activity at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 20,960 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $87.75, for a total value of $1,839,187.60. Following the completion of the sale, the president directly owned 11,584 shares in the company, valued at $1,016,467.04. This represents a 64.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Piper Sandler Companies by 1,440.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock worth $26,000 after purchasing an additional 72 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Piper Sandler Companies during the 4th quarter worth approximately $28,000. UMB Bank n.a. boosted its holdings in shares of Piper Sandler Companies by 55.2% during the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Whittier Trust Co. purchased a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $31,000. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $74.90 on Friday. The stock has a market capitalization of $5.34 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.64 and a beta of 1.54. The company’s fifty day moving average price is $80.87 and its 200 day moving average price is $83.85. Piper Sandler Companies has a 1 year low of $50.73 and a 1 year high of $95.07.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $2.16. The business had revenue of $635.00 million for the quarter, compared to the consensus estimate of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The company’s revenue was up 27.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share.

Piper Sandler Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies’s dividend payout ratio is presently 4.43%.

About Piper Sandler Companies

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.