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

Piper Sandler Companies (NYSE:PIPR)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $288.47 and last traded at $290.50, with a volume of 818 shares trading hands. The stock had previously closed at $288.83.

Analyst Ratings Changes

PIPR has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Piper Sandler Companies Stock Down 0.1 %

The stock has a market cap of $5.13 billion, a PE ratio of 28.21 and a beta of 1.46. The business has a 50-day moving average of $308.16.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 period in the prior year, the business earned $4.03 earnings per share. Research analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given 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 0.90%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently modified their holdings of PIPR. Norges Bank purchased a new stake in shares of Piper Sandler Companies in the fourth quarter valued at $68,696,000. FMR LLC lifted its holdings in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Piper Sandler Companies by 17.2% in the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock valued at $209,312,000 after purchasing an additional 102,426 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of Piper Sandler Companies in the third quarter valued at $14,645,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Piper Sandler Companies by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock valued at $618,974,000 after purchasing an additional 31,400 shares in the last quarter. Institutional investors and hedge funds 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.