Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High - Still a Buy?

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $288.47 and last traded at $290.50, with a volume of 818 shares changing hands. The stock had previously closed at $288.83.

Analysts Set New Price Targets

PIPR has been the subject of a number of recent research reports. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. The Goldman Sachs Group boosted their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Stock Down 0.7 %

The company has a fifty day simple moving average of $303.87 and a 200-day simple moving average of $310.30. The firm has a market cap of $5.00 billion, a P/E ratio of 27.52 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter in the prior year, the firm posted $4.03 earnings per share. As a group, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

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Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.92%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 25.44%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PIPR. Cerity Partners LLC raised its holdings in Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider's stock valued at $4,558,000 after acquiring an additional 2,819 shares during the period. Barclays PLC raised its stake in Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock valued at $9,174,000 after purchasing an additional 24,388 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider's stock valued at $58,245,000 after purchasing an additional 2,689 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Piper Sandler Companies in the 3rd quarter worth approximately $624,000. Finally, Citigroup Inc. boosted its stake in Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider's stock worth $6,101,000 after purchasing an additional 8,337 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Company Profile

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.