Piper Sandler Companies (NYSE:PIPR) Receives Consensus Rating of “Hold” from Analysts

Shares of Piper Sandler Companies (NYSE:PIPR) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $392.00.

PIPR has been the subject of several research analyst reports. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Wolfe Research reissued an “outperform” rating and issued a $398.00 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $368.00 to $386.00 in a research note on Monday, November 10th.

Insider Transactions at Piper Sandler Companies

In related news, CFO Katherine Patricia Clune sold 1,367 shares of Piper Sandler Companies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total value of $443,851.23. Following the completion of the transaction, the chief financial officer directly owned 10,425 shares in the company, valued at approximately $3,384,893.25. The trade was a 11.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Debbra L. Schoneman sold 2,500 shares of the 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 sale, the president owned 2,896 shares in the company, valued at approximately $956,635.68. This represents a 46.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,267 shares of company stock worth $3,763,746 over the last quarter. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Piper Sandler Companies by 20.7% during the 1st quarter. AQR Capital Management LLC now owns 5,572 shares of the financial services provider’s stock worth $1,380,000 after purchasing an additional 956 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Piper Sandler Companies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the financial services provider’s stock valued at $2,563,000 after buying an additional 473 shares during the period. United Services Automobile Association purchased a new stake in shares of Piper Sandler Companies in the first quarter worth about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Piper Sandler Companies by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the financial services provider’s stock valued at $10,977,000 after acquiring an additional 177 shares during the period. Finally, Intech Investment Management LLC grew its stake in Piper Sandler Companies by 33.2% during the first quarter. Intech Investment Management LLC now owns 12,249 shares of the financial services provider’s stock valued at $3,034,000 after acquiring an additional 3,056 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of NYSE:PIPR opened at $376.89 on Friday. The company has a market capitalization of $6.67 billion, a P/E ratio of 28.40 and a beta of 1.54. The company’s 50-day moving average is $345.17 and its 200 day moving average is $334.71. Piper Sandler Companies has a fifty-two week low of $202.91 and a fifty-two week high of $379.54.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. The business had revenue of $455.31 million during the quarter, compared to the consensus estimate of $408.40 million. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the company 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. Shareholders of record on Tuesday, November 25th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.80 annualized dividend and a yield of 0.7%. Piper Sandler Companies’s dividend payout ratio is 21.10%.

About Piper Sandler Companies

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.