Piper Sandler Companies (NYSE:PIPR) Sets New 12-Month High - Here's Why

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $288.47 and last traded at $288.58, with a volume of 1873 shares. The stock had previously closed at $289.62.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised 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 note on Monday, February 3rd.

Piper Sandler Companies Stock Down 2.9 %

The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 25.06 and a beta of 1.46. The company's fifty day simple moving average is $298.65 and its two-hundred day simple moving average is $306.60.

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

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Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.02%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 25.44%.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter worth approximately $73,000. Park Square Financial Group LLC acquired a new stake in Piper Sandler Companies during the fourth quarter worth approximately $45,000. Aurdan Capital Management LLC bought a new stake in shares of Piper Sandler Companies during the fourth quarter worth approximately $1,664,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Piper Sandler Companies by 26.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,146 shares of the financial services provider's stock worth $13,242,000 after acquiring an additional 9,141 shares during the period. Finally, Vident Advisory LLC grew its position in shares of Piper Sandler Companies by 7.1% in the fourth quarter. Vident Advisory LLC now owns 15,765 shares of the financial services provider's stock valued at $4,729,000 after purchasing an additional 1,040 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

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.