Piper Sandler Companies (NYSE:PIPR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Piper Sandler Companies (NYSE:PIPR) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $389.6667.

A number of equities research analysts recently commented on PIPR shares. Zacks Research upgraded shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Bank of America started coverage on Piper Sandler Companies in a research report on Monday, January 26th. They set an “underperform” rating and a $385.00 price objective for the company. Wolfe Research reaffirmed an “outperform” rating and set a $398.00 price target on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Tuesday, February 24th. Finally, The Goldman Sachs Group upgraded shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $368.00 to $386.00 in a report on Monday, November 10th.

Piper Sandler Companies Stock Down 6.8%

PIPR opened at $295.14 on Monday. The stock has a market cap of $5.22 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.63 and a beta of 1.54. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $380.26. The company has a fifty day simple moving average of $345.35 and a 200 day simple moving average of $340.31.

Shares of Piper Sandler Companies are scheduled to split before the market opens on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, February 6th. The company reported $6.88 EPS for the quarter, topping the consensus estimate of $4.72 by $2.16. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The firm had revenue of $635.00 million for the quarter, compared to the consensus estimate of $516.52 million. During the same period last year, the company posted $4.80 EPS. The business’s quarterly revenue was up 27.4% on a year-over-year basis.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. Piper Sandler Companies’s payout ratio is currently 17.71%.

Insider Transactions at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 5,240 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the completion of the transaction, the president directly owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. This represents a 64.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in Piper Sandler Companies by 89.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Piper Sandler Companies by 1,440.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after acquiring an additional 72 shares during the period. CENTRAL TRUST Co acquired a new position in shares of Piper Sandler Companies during the 2nd quarter worth about $28,000. Los Angeles Capital Management LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter valued at about $28,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Piper Sandler Companies in the 2nd quarter valued at about $31,000. Institutional investors own 72.79% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.