Piper Sandler Companies (NYSE:PIPR) Rating Lowered to "Neutral" at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Piper Sandler Companies (NYSE:PIPR - Free Report) from a buy rating to a neutral rating in a research note released on Monday, MarketBeat.com reports. The firm currently has $317.00 price objective on the financial services provider's stock.

Several other research analysts have also recently weighed in on PIPR. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Price Performance

PIPR stock traded down $4.23 during midday trading on Monday, reaching $297.20. 150,500 shares of the company were exchanged, compared to its average volume of 107,300. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80. The firm has a market capitalization 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 two-hundred day moving average price of $310.66.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to analyst estimates 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, analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid 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 yield of 0.87%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 27.78%.

Institutional Trading of Piper Sandler Companies

A number of institutional investors have recently modified their holdings of PIPR. Cerity Partners LLC raised its stake in Piper Sandler Companies by 21.3% in the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider's stock valued at $4,558,000 after purchasing an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider's stock valued at $58,245,000 after buying an additional 2,689 shares in the last quarter. Barclays PLC raised its position in shares of Piper Sandler Companies by 307.2% in 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. Dynamic Technology Lab Private Ltd bought a new stake in shares of Piper Sandler Companies during the 3rd quarter worth approximately $624,000. Finally, Citigroup Inc. boosted its position in shares of Piper Sandler Companies by 63.4% during the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider's stock worth $6,101,000 after acquiring an additional 8,337 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

About Piper Sandler Companies

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.