Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High – Here’s What Happened

Piper Sandler Companies (NYSE:PIPR)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $288.47 and last traded at $314.01, with a volume of 1371 shares changing hands. The stock had previously closed at $313.22.

Analyst Ratings Changes

A number of analysts recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. The Goldman Sachs Group raised their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Trading Up 0.3 %

The firm has a market cap of $5.58 billion, a P/E ratio of 30.73 and a beta of 1.46. The business has a 50-day simple moving average of $305.09.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the company earned $4.03 EPS. Equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.83%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC raised its position in shares of 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 during the period. Barclays PLC grew its position in Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Piper Sandler Companies by 1.3% in the third 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. Dynamic Technology Lab Private Ltd bought a new stake in shares of Piper Sandler Companies during the third quarter worth $624,000. Finally, Citigroup Inc. lifted its position in Piper Sandler Companies by 63.4% during the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after purchasing an additional 8,337 shares during the period. 72.79% of the stock is currently owned by hedge funds and other 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.