Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year Low – Time to Sell?

Piper Sandler Companies (NYSE:PIPR)’s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $62.61 and last traded at $62.8560, with a volume of 20,086 shares traded. The stock had previously closed at $64.90.

Analysts Set New Price Targets

Several analysts have commented on PIPR shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Monday, August 17th. The Goldman Sachs Group set a $80.00 target price on shares of Piper Sandler Companies and gave the company a “buy” rating in a research note on Thursday, October 1st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.81.

Piper Sandler Companies Stock Down 2.5%

The business has a fifty day simple moving average of $72.59 and a two-hundred day simple moving average of $76.83. The company has a market cap of $4.40 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.52 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.88 by $0.16. The firm had revenue of $491.14 million during the quarter, compared to analyst estimates of $445.28 million. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 EPS. On average, equities analysts predict that Piper Sandler Companies will post 4.44 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Piper Sandler Companies’s dividend payout ratio (DPR) is 18.52%.

Institutional Trading of Piper Sandler Companies

A number of hedge funds and other institutional investors have recently modified their holdings of PIPR. One Capital Management LLC bought a new stake in Piper Sandler Companies during the second quarter valued at about $2,288,000. Wellington Management Group LLP purchased a new position in shares of Piper Sandler Companies in the second quarter valued at about $13,753,000. Y Intercept Hong Kong Ltd bought a new position in shares of Piper Sandler Companies in the first quarter worth about $1,535,000. Arizona State Retirement System bought a new position in shares of Piper Sandler Companies in the second quarter worth about $1,387,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Piper Sandler Companies during the second quarter worth about $9,445,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

About Piper Sandler Companies

Piper Sandler Companies (NYSE:PIPR) is a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.