Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High – Time to Buy?

Piper Sandler Companies (NYSE:PIPR) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $288.47 and last traded at $279.16, with a volume of 3039 shares. The stock had previously closed at $282.40.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of research reports. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group lowered shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price on the stock. in a research report on Monday, January 6th.

Piper Sandler Companies Price Performance

The stock’s 50-day simple moving average is $305.24. The stock has a market cap of $4.95 billion, a PE ratio of 29.74 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Sell-side analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after buying an additional 205,584 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Piper Sandler Companies during the 3rd quarter worth $14,645,000. Millennium Management LLC raised its stake in shares of Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after buying an additional 30,942 shares during the last quarter. Barclays PLC raised its stake in shares of 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 buying an additional 24,388 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Piper Sandler Companies by 101.2% during the 2nd quarter. Sei Investments Co. now owns 44,675 shares of the financial services provider’s stock worth $10,282,000 after buying an additional 22,471 shares during the last quarter. Institutional investors and hedge funds 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.