Piper Sandler Companies (NYSE:PIPR) Stock Has Average Target Price of $90.81 According to Brokerages

Piper Sandler Companies (NYSE:PIPR) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $90.81.

A number of research firms have recently commented on PIPR. Zacks Research cut shares of Piper Sandler Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Monday, August 17th. Finally, The Goldman Sachs Group set a $80.00 price objective on Piper Sandler Companies and gave the stock a “buy” rating in a research report on Thursday, October 1st.

Institutional Trading of Piper Sandler Companies

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in shares of Piper Sandler Companies by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock worth $41,466,000 after purchasing an additional 2,967 shares during the period. Greenwich Wealth Management LLC grew its stake in Piper Sandler Companies by 1.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 420,805 shares of the company’s stock worth $30,441,000 after acquiring an additional 4,036 shares during the period. Wellington Management Group LLP acquired a new position in shares of Piper Sandler Companies during the 2nd quarter valued at about $13,753,000. WINTON GROUP Ltd purchased a new stake in shares of Piper Sandler Companies during the 2nd quarter valued at $9,445,000. Finally, Public Employees Retirement System of Ohio increased its position in Piper Sandler Companies by 27.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 41,572 shares of the company’s stock worth $3,007,000 after purchasing an additional 9,044 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Trading Up 0.2%

Shares of NYSE PIPR opened at $64.68 on Tuesday. Piper Sandler Companies has a 12 month low of $61.35 and a 12 month high of $95.07. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.95 and a beta of 1.43. The company has a 50 day simple moving average of $71.95 and a two-hundred day simple moving average of $76.61.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Thursday, July 30th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.88 by $0.16. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%. The firm had revenue of $491.14 million for the quarter, compared to analyst estimates of $445.28 million. During the same period last year, the company earned $2.92 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 24.9% compared to the same quarter last year. Analysts forecast that Piper Sandler Companies will post 4.47 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 28th. Piper Sandler Companies’s payout ratio is currently 18.52%.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE:PIPR) is a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.