Piper Sandler Companies (NYSE:PIPR) Stock Has Consensus Target Price of $84.00

Piper Sandler Companies (NYSE:PIPR) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $84.00.

PIPR has been the subject of several recent research reports. Zacks Research downgraded Piper Sandler Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. The Goldman Sachs Group set a $80.00 price objective on shares of Piper Sandler Companies and gave the company a “buy” rating in a research note on Thursday, October 1st. Bank of America restated an “underperform” rating and set a $69.00 price objective on shares of Piper Sandler Companies in a research report on Tuesday, November 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Monday, August 17th.

Insider Activity at Piper Sandler Companies

In related news, President Debbra Schoneman sold 39,708 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $67.38, for a total value of $2,675,525.04. Following the sale, the president directly owned 11,752 shares in the company, valued at $791,849.76. The trade was a 77.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its position in shares of Piper Sandler Companies by 71.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company’s stock worth $118,000 after purchasing an additional 144 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in shares of Piper Sandler Companies by 0.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 34,899 shares of the company’s stock worth $2,302,000 after purchasing an additional 164 shares during the period. King Luther Capital Management Corp increased its holdings in shares of Piper Sandler Companies by 0.4% in the 3rd quarter. King Luther Capital Management Corp now owns 53,322 shares of the company’s stock valued at $3,518,000 after purchasing an additional 191 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Piper Sandler Companies by 2.0% in the 3rd quarter. Pictet Asset Management Holding SA now owns 11,457 shares of the company’s stock valued at $756,000 after purchasing an additional 220 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Piper Sandler Companies by 18.8% in the 3rd quarter. Allworth Financial LP now owns 1,485 shares of the company’s stock valued at $107,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $66.54 on Friday. Piper Sandler Companies has a 12 month low of $61.35 and a 12 month high of $95.07. The firm has a market capitalization of $4.68 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39. The business’s fifty day moving average price is $68.62 and its 200 day moving average price is $76.18.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.06). The business had revenue of $456.04 million during the quarter, compared to analyst estimates of $467.39 million. Piper Sandler Companies had a net margin of 14.53% and a return on equity of 21.14%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $3.82 earnings per share. As a group, equities analysts anticipate that Piper Sandler Companies will post 4.10 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 24th. Piper Sandler Companies’s dividend payout ratio is 18.82%.

Piper Sandler Companies Company Profile

Piper Sandler Companies is a financial services company whose businesses provide investment banking, institutional sales and trading, research, and asset management services. Its clients include corporations, financial sponsors, institutional investors, and government entities. The company advises on mergers and acquisitions and other strategic matters, helps clients raise capital, and provides equity and fixed-income trading and research. Its public finance business also serves municipal and other public-sector borrowers.