Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High - Should You Buy?

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $288.47 and last traded at $279.16, with a volume of 3039 shares trading hands. The stock had previously closed at $282.40.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of Piper Sandler Companies from a "buy" rating to a "neutral" rating and set a $317.00 price objective on the stock. in a report on Monday, January 6th. Finally, JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Up 1.2 %

The firm has a 50-day simple moving average of $303.57 and a 200-day simple moving average of $311.24. The stock has a market cap of $5.08 billion, a PE ratio of 30.54 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million for the quarter, compared to analysts' expectations of $365.07 million. On average, research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.91%. Piper Sandler Companies's dividend payout ratio (DPR) is currently 27.78%.

Institutional Trading of Piper Sandler Companies

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its position in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock worth $177,395,000 after purchasing an additional 205,584 shares during the last quarter. Fred Alger Management LLC purchased a new position in Piper Sandler Companies in the 3rd quarter worth approximately $14,645,000. Millennium Management LLC increased its holdings in shares of Piper Sandler Companies by 66.0% in the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock worth $17,908,000 after buying an additional 30,942 shares during the last quarter. Barclays PLC raised its position in shares of 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 buying an additional 24,388 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Piper Sandler Companies by 101.2% during the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider's stock worth $10,282,000 after acquiring an additional 22,471 shares during the last quarter. 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.