Piper Sandler Companies (NYSE:PIPR) Given New $392.00 Price Target at The Goldman Sachs Group

Piper Sandler Companies (NYSE:PIPR) had its price objective trimmed by The Goldman Sachs Group from $461.00 to $392.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on PIPR. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Friday, January 23rd. Bank of America started coverage on shares of Piper Sandler Companies in a research report on Monday, January 26th. They issued an “underperform” rating and a $385.00 price objective on the stock. Zacks Research raised shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. Northland Securities raised Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 price target on the stock in a research note on Wednesday, March 4th. Finally, Wolfe Research restated an “outperform” rating and issued a $398.00 price target on shares of Piper Sandler Companies in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $381.25.

Piper Sandler Companies Trading Down 3.5%

PIPR stock opened at $279.88 on Thursday. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $380.26. The firm has a market cap of $4.99 billion, a PE ratio of 17.70, a P/E/G ratio of 1.60 and a beta of 1.54. The business’s 50-day moving average price is $335.74 and its two-hundred day moving average price is $337.97.

Piper Sandler Companies’s stock is set 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 market closes on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.72 by $2.16. Piper Sandler Companies had a return on equity of 21.85% and a net margin of 14.77%.The business had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. During the same period in the prior year, the business earned $4.80 EPS. Piper Sandler Companies’s revenue for the quarter was up 27.4% compared to the same quarter last year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $2.80 annualized dividend and a yield of 1.0%. Piper Sandler Companies’s dividend payout ratio is presently 17.71%.

Insiders Place Their Bets

In related news, President Debbra L. Schoneman sold 5,240 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total value of $1,839,187.60. Following the completion of the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. This trade represents a 64.41% 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 hyperlink. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised 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 acquiring an additional 35 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in Piper Sandler Companies by 1,440.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Piper Sandler Companies during the 4th quarter worth approximately $28,000. UMB Bank n.a. raised its stake in shares of Piper Sandler Companies by 55.2% during the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of Piper Sandler Companies during the 3rd quarter worth approximately $31,000. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

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.