The Goldman Sachs Group Cuts Piper Sandler Companies (NYSE:PIPR) Price Target to $392.00

Piper Sandler Companies (NYSE:PIPR) had its price objective decreased by The Goldman Sachs Group from $461.00 to $392.00 in a research note released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

PIPR has been the topic of several other research reports. Bank of America assumed coverage on shares of Piper Sandler Companies in a report on Monday, January 26th. They set an “underperform” rating and a $385.00 price objective on the stock. Northland Securities upgraded shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 price objective for the company in a report on Wednesday, March 4th. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday, January 23rd. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $398.00 price target on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Piper Sandler Companies currently has a consensus rating of “Moderate Buy” and an average price target of $381.25.

Piper Sandler Companies Trading Up 0.7%

PIPR opened at $281.88 on Thursday. The company has a fifty day moving average price of $334.51 and a two-hundred day moving average price of $337.82. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $380.26. The company has a market cap of $5.02 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.56 and a beta of 1.54.

Piper Sandler Companies shares are scheduled to split before the market opens on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly created shares will be issued to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $2.16. The business had revenue of $635.00 million for the quarter, compared to analyst estimates of $516.52 million. Piper Sandler Companies had a return on equity of 21.85% and a net margin of 14.77%.The company’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.80 earnings per share.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $2.80 annualized dividend and a yield of 1.0%. Piper Sandler Companies’s payout ratio is currently 17.71%.

Insider Activity at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 5,240 shares of Piper Sandler Companies stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the sale, the president directly owned 2,896 shares in the company, valued at $1,016,467.04. The trade was a 64.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Institutional Trading of Piper Sandler Companies

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in shares of Piper Sandler Companies by 20.7% during the 1st quarter. AQR Capital Management LLC now owns 5,572 shares of the company’s stock worth $1,380,000 after purchasing an additional 956 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Piper Sandler Companies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the company’s stock valued at $2,563,000 after purchasing an additional 473 shares during the last quarter. United Services Automobile Association purchased a new position in Piper Sandler Companies in the first quarter valued at approximately $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Piper Sandler Companies by 0.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the company’s stock valued at $10,977,000 after purchasing an additional 177 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Piper Sandler Companies by 46.6% during the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock valued at $42,000 after purchasing an additional 54 shares during the period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

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.