Piper Sandler Companies (NYSE:PIPR) Given Consensus Recommendation of “Hold” by Analysts

Piper Sandler Companies (NYSE:PIPR) has been assigned an average recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $392.00.

A number of equities analysts have commented on the stock. Wolfe Research reissued an “outperform” rating and issued a $398.00 price target on shares of Piper Sandler Companies in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $368.00 to $386.00 in a research report on Monday, November 10th. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th.

Insider Buying and Selling at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 2,500 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total transaction of $825,825.00. Following the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. This trade represents a 46.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Abraham sold 4,400 shares of Piper Sandler Companies stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $337.60, for a total transaction of $1,485,440.00. Following the completion of the transaction, the chief executive officer owned 53,558 shares in the company, valued at approximately $18,081,180.80. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,267 shares of company stock worth $3,763,746 over the last ninety days. Insiders own 2.70% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Several institutional investors have recently added to or reduced their stakes in PIPR. AQR Capital Management LLC increased its holdings in shares of Piper Sandler Companies by 20.7% in the first quarter. AQR Capital Management LLC now owns 5,572 shares of the financial services provider’s stock worth $1,380,000 after buying an additional 956 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Piper Sandler Companies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the financial services provider’s stock worth $2,563,000 after purchasing an additional 473 shares during the period. United Services Automobile Association bought a new stake in Piper Sandler Companies in the first quarter valued at approximately $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Piper Sandler Companies by 0.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the financial services provider’s stock valued at $10,977,000 after purchasing an additional 177 shares during the period. Finally, Intech Investment Management LLC grew its holdings in shares of Piper Sandler Companies by 33.2% in the first quarter. Intech Investment Management LLC now owns 12,249 shares of the financial services provider’s stock worth $3,034,000 after purchasing an additional 3,056 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Stock Down 1.6%

Piper Sandler Companies stock opened at $361.91 on Friday. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 27.27 and a beta of 1.54. The business has a 50-day simple moving average of $341.35 and a 200 day simple moving average of $331.71. Piper Sandler Companies has a 52 week low of $202.91 and a 52 week high of $374.77.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, October 31st. The financial services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The firm had revenue of $455.31 million during the quarter, compared to the consensus estimate of $408.40 million. During the same quarter last year, the company posted $2.57 EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.80 annualized dividend and a yield of 0.8%. Piper Sandler Companies’s dividend payout ratio is currently 21.10%.

Piper Sandler Companies Company Profile

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.