Piper Sandler Companies (NYSE:PIPR) Stock Rating Lowered by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a neutral rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage currently has $317.00 price objective on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Trading Up 0.7 %

Shares of PIPR opened at $301.43 on Monday. Piper Sandler Companies has a fifty-two week low of $162.50 and a fifty-two week high of $351.80. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 32.20 and a beta of 1.46. The business has a 50 day simple moving average of $313.26.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The business had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Equities research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued 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 0.86%. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC increased its stake in shares of Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock valued at $4,558,000 after buying an additional 2,819 shares during the period. Charles Schwab Investment Management Inc. increased its position in Piper Sandler Companies by 1.3% during 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 purchasing an additional 2,689 shares during the period. Barclays PLC raised its holdings in Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after purchasing an additional 24,388 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Piper Sandler Companies in the 3rd quarter worth $624,000. Finally, Citigroup Inc. lifted its position in shares of Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after purchasing an additional 8,337 shares during the period. 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.