Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High – Still a Buy?

Piper Sandler Companies (NYSE:PIPR)’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 changing hands. The stock had previously closed at $301.43.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of 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 report on Tuesday, September 17th. Finally, StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, December 28th.

Piper Sandler Companies Price Performance

The stock has a fifty day moving average of $313.26. The company has a market cap of $5.32 billion, a PE ratio of 31.94 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping 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%. Equities research analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed 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 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 is currently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. USA Financial Formulas bought a new position in shares of Piper Sandler Companies during the 3rd quarter worth approximately $77,000. GAMMA Investing LLC boosted its holdings in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 60 shares during the last quarter. CWM LLC grew its position in Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. KBC Group NV increased its stake in 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 buying an additional 95 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Piper Sandler Companies by 486.6% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after buying an additional 545 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.