Piper Sandler Companies (NYSE:PIPR) Trading Down 2.8% - Should You Sell?

Piper Sandler Companies (NYSE:PIPR - Get Free Report) fell 2.8% on Tuesday . The company traded as low as $310.96 and last traded at $312.19. 94,825 shares changed hands during trading, an increase of 17% from the average session volume of 80,976 shares. The stock had previously closed at $321.34.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PIPR shares. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Monday, October 28th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Down 5.1 %

The company has a market cap of $5.27 billion, a price-to-earnings ratio of 31.64 and a beta of 1.43. The stock has a 50 day simple moving average of $332.07 and a 200 day simple moving average of $305.73.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released 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. The business had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, equities research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a dividend of $0.65 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.88%. Piper Sandler Companies's payout ratio is currently 27.78%.

Institutional Trading of Piper Sandler Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in PIPR. Blue Trust Inc. raised its holdings in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock worth $26,000 after buying an additional 74 shares during the period. nVerses Capital LLC lifted its stake in Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after acquiring an additional 100 shares in the last quarter. USA Financial Formulas acquired a new position in Piper Sandler Companies in the 3rd quarter valued at approximately $77,000. CWM LLC increased its stake in shares of Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after acquiring an additional 57 shares during the last quarter. Finally, KBC Group NV grew its stake in Piper Sandler Companies by 20.9% in the third 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 in the last quarter. 72.79% of the stock is currently 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.