Piper Sandler Companies (NYSE:PIPR) Sets New 52-Week High – Still a Buy?

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $300.15 and last traded at $297.10, with a volume of 574 shares trading hands. The stock had previously closed at $297.75.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of research analyst reports. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Friday. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 31.74 and a beta of 1.43. The company has a 50-day simple moving average of $329.12.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping 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 company had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. As a group, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s payout ratio is currently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised 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 worth $177,395,000 after buying an additional 205,584 shares during the last quarter. Fred Alger Management LLC acquired a new stake in Piper Sandler Companies in the third quarter valued at approximately $14,645,000. Mesirow Institutional Investment Management Inc. purchased a new stake in Piper Sandler Companies in the 2nd quarter worth $10,139,000. Millennium Management LLC lifted its stake in Piper Sandler Companies by 66.0% in the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock valued at $17,908,000 after buying an additional 30,942 shares in the last quarter. Finally, Nicholas Investment Partners LP acquired a new stake in shares of Piper Sandler Companies in the second quarter worth approximately $5,950,000. Hedge funds and other institutional investors 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.