Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – Should You Buy?

Shares of Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high during mid-day trading on Monday . The company 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

A number of equities research analysts have commented on the company. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price target for the company. in a research note on Monday.

Piper Sandler Companies Stock Performance

The company has a market cap of $5.32 billion, a price-to-earnings ratio of 31.94 and a beta of 1.46. The stock has a 50 day simple moving average of $313.26.

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

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. USA Financial Formulas purchased a new stake in Piper Sandler Companies during the third quarter valued at approximately $77,000. GAMMA Investing LLC raised its holdings 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 valued at $83,000 after buying an additional 60 shares during the period. CWM LLC lifted 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 worth $88,000 after buying an additional 57 shares during the last quarter. KBC Group NV boosted its stake in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares during the period. Finally, Blue Trust Inc. increased its position in Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 545 shares during the last quarter. Institutional investors 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.