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

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $336.53 and last traded at $337.63, with a volume of 1020 shares traded. The stock had previously closed at $336.11.

Analysts Set New Price Targets

Several research analysts have recently commented on PIPR shares. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 28th.

Piper Sandler Companies Stock Up 0.6 %

The firm has a market capitalization of $6.01 billion, a PE ratio of 36.11 and a beta of 1.39. The firm has a 50-day moving average price of $308.14 and a 200 day moving average price of $285.81.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is presently 27.78%.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares of the company's stock, valued at approximately $4,840,556.72. This trade represents a 8.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds have recently made changes to their positions in PIPR. FMR LLC grew its holdings in shares of Piper Sandler Companies by 49.0% during 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 shares of Piper Sandler Companies during the third quarter worth about $14,645,000. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Piper Sandler Companies during the second quarter worth about $10,139,000. Millennium Management LLC grew its holdings in shares of Piper Sandler Companies by 66.0% during the second 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. Finally, Nicholas Investment Partners LP purchased a new position in shares of Piper Sandler Companies during the second quarter worth about $5,950,000. 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.