Piper Sandler Companies (NYSE:PIPR) Receives $392.00 Average Price Target from Analysts

Shares of Piper Sandler Companies (NYSE:PIPR) have been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $392.00.

A number of equities research analysts have recently issued reports on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $398.00 target price on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Wednesday, October 8th. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $368.00 to $386.00 in a report on Monday, November 10th. Finally, Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th.

Insider Activity

In related news, CFO Katherine Patricia Clune sold 1,367 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $324.69, for a total value of $443,851.23. Following the completion of the sale, the chief financial officer owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Debbra L. Schoneman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total transaction of $825,825.00. Following the sale, the president owned 2,896 shares of the company’s stock, valued at approximately $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Piper Sandler Companies by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,110,186 shares of the financial services provider’s stock worth $732,213,000 after purchasing an additional 21,551 shares during the period. Invesco Ltd. lifted its position in Piper Sandler Companies by 2.9% in the third quarter. Invesco Ltd. now owns 714,544 shares of the financial services provider’s stock valued at $247,940,000 after buying an additional 20,232 shares during the last quarter. Geode Capital Management LLC lifted its position in Piper Sandler Companies by 2.5% in the second quarter. Geode Capital Management LLC now owns 400,772 shares of the financial services provider’s stock valued at $111,402,000 after buying an additional 9,759 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Piper Sandler Companies by 1.0% during the second quarter. JPMorgan Chase & Co. now owns 290,357 shares of the financial services provider’s stock worth $80,702,000 after buying an additional 2,839 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Piper Sandler Companies by 11.6% during the second quarter. Stephens Investment Management Group LLC now owns 279,542 shares of the financial services provider’s stock valued at $77,696,000 after acquiring an additional 29,035 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Down 1.3%

NYSE:PIPR opened at $356.98 on Friday. The stock has a 50 day moving average of $342.71 and a two-hundred day moving average of $333.21. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $374.77. The firm has a market cap of $6.31 billion, a P/E ratio of 26.90 and a beta of 1.54.

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

Piper Sandler Companies Dividend Announcement

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

Piper Sandler Companies Company Profile

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.