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Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High - What's Next?

Piper Sandler Companies logo with Finance background

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $302.49 and last traded at $299.31, with a volume of 3285 shares. The stock had previously closed at $301.43.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PIPR shares. The Goldman Sachs Group cut Piper Sandler Companies from a "buy" rating to a "neutral" rating and set a $317.00 price target on the stock. in a research report on Monday. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. Finally, StockNews.com cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th.

View Our Latest Report on PIPR

Piper Sandler Companies Trading Down 1.4 %

The company has a market cap of $5.28 billion, a price-to-earnings ratio of 31.75 and a beta of 1.46. The business has a 50-day moving average price of $311.43 and a 200 day moving average price of $310.66.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share 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 firm had revenue of $359.57 million for the quarter, compared to analysts' expectations of $365.07 million. On average, analysts anticipate 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. Investors of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.87%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the third quarter worth $77,000. GAMMA Investing LLC boosted its position in Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after acquiring an additional 60 shares during the period. CWM LLC grew its stake in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after acquiring an additional 57 shares in the last quarter. KBC Group NV increased its holdings in shares of Piper Sandler Companies by 20.9% in the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider's stock valued at $156,000 after purchasing an additional 95 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Piper Sandler Companies by 486.6% in the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider's stock worth $186,000 after purchasing an additional 545 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

About Piper Sandler Companies

(Get Free Report)

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.

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