Piper Sandler Companies (NYSE:PIPR) Sets New 52-Week High – Here’s Why

Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high during trading on Monday . The stock traded as high as $302.49 and last traded at $299.31, with a volume of 3285 shares trading hands. The stock had previously closed at $301.43.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. The Goldman Sachs Group cut Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a report on Monday. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th.

Piper Sandler Companies Stock Down 0.8 %

The stock has a 50 day moving average price of $313.26. The stock has a market cap of $5.32 billion, a PE ratio of 31.94 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently made changes to their positions in PIPR. Commonwealth Equity Services LLC boosted its position in Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after buying an additional 54 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Piper Sandler Companies by 18.6% during the 2nd quarter. Natixis Advisors LLC now owns 18,351 shares of the financial services provider’s stock valued at $4,224,000 after acquiring an additional 2,881 shares in the last quarter. TD Asset Management Inc bought a new stake in Piper Sandler Companies during the 2nd quarter worth $483,000. Victory Capital Management Inc. increased its holdings in Piper Sandler Companies by 74.7% in the 2nd quarter. Victory Capital Management Inc. now owns 13,176 shares of the financial services provider’s stock worth $3,033,000 after purchasing an additional 5,636 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Piper Sandler Companies by 1.7% in the second quarter. Arizona State Retirement System now owns 4,950 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 83 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.