Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High – Here’s What Happened

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Monday . The company traded as high as $288.47 and last traded at $314.01, with a volume of 1371 shares trading hands. The stock had previously closed at $313.22.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group boosted their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Stock Performance

The stock has a market cap of $5.58 billion, a P/E ratio of 30.73 and a beta of 1.46. The business has a fifty day moving average of $305.09.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate 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 company posted $4.03 earnings per share. Sell-side analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. Piper Sandler Companies’s dividend payout ratio (DPR) is 25.44%.

Institutional Investors Weigh In On Piper Sandler Companies

Several large investors have recently modified their holdings of PIPR. FMR LLC increased its holdings in shares of Piper Sandler Companies by 49.0% in the 3rd 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. Fred Alger Management LLC purchased a new position in Piper Sandler Companies in the 3rd quarter worth approximately $14,645,000. Proficio Capital Partners LLC acquired a new position in Piper Sandler Companies in the 4th quarter worth $8,097,000. Raymond James Financial Inc. purchased a new position in Piper Sandler Companies in the fourth quarter valued at about $7,464,000. Finally, Barclays PLC grew its position in shares of Piper Sandler Companies by 307.2% during the third 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 in the last quarter. 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.