Piper Sandler Companies (NYSE:PIPR) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Piper Sandler Companies (NYSE:PIPR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $326.02 and traded as high as $350.36. Piper Sandler Companies shares last traded at $348.7190, with a volume of 88,451 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PIPR shares. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $368.00 to $386.00 in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Finally, Zacks Research upgraded shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.50.

Piper Sandler Companies Stock Down 0.4%

The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 26.28 and a beta of 1.55. The stock has a fifty day moving average of $337.81 and a 200-day moving average of $326.02.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The company had revenue of $455.31 million for the quarter, compared to analysts’ expectations of $408.40 million. During the same quarter last year, the company earned $2.57 earnings per share. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Tuesday, November 25th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio is currently 21.10%.

Insiders Place Their Bets

In other news, CFO Katherine Patricia Clune sold 1,367 shares of Piper Sandler Companies stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $324.69, for a total transaction of $443,851.23. Following the sale, the chief financial officer owned 10,425 shares in the company, valued at approximately $3,384,893.25. The trade was a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad R. Abraham sold 4,400 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $337.60, for a total value of $1,485,440.00. Following the completion of the sale, the chief executive officer directly owned 53,558 shares of the company’s stock, valued at approximately $18,081,180.80. This trade represents a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 11,267 shares of company stock valued at $3,763,746. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Piper Sandler Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PIPR. Norges Bank acquired a new position in shares of Piper Sandler Companies in the second quarter valued at approximately $59,820,000. American Century Companies Inc. lifted its holdings in shares of Piper Sandler Companies by 1,155.7% during the second quarter. American Century Companies Inc. now owns 200,149 shares of the financial services provider’s stock worth $55,630,000 after purchasing an additional 184,210 shares during the period. Franklin Resources Inc. purchased a new position in Piper Sandler Companies in the 2nd quarter valued at $51,021,000. Wellington Management Group LLP acquired a new position in Piper Sandler Companies in the 3rd quarter valued at $38,425,000. Finally, Greenwich Wealth Management LLC raised its position in Piper Sandler Companies by 415.1% during the 2nd quarter. Greenwich Wealth Management LLC now owns 104,200 shares of the financial services provider’s stock worth $28,961,000 after buying an additional 83,971 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

About Piper Sandler Companies

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.