Piper Sandler Companies (NYSE:PIPR) Receives $95.06 Consensus PT from Brokerages

Piper Sandler Companies (NYSE:PIPR) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $95.0625.

Several brokerages have weighed in on PIPR. The Goldman Sachs Group reaffirmed a “buy” rating and set a $97.00 price target on shares of Piper Sandler Companies in a research report on Tuesday, April 14th. Wall Street Zen downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Friday, January 23rd. Northland Securities raised Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price target on the stock in a research report on Wednesday, March 4th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $99.50 price target on shares of Piper Sandler Companies in a research report on Wednesday, January 7th.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $87.73 on Tuesday. The business’s 50-day moving average is $78.65 and its two-hundred day moving average is $83.33. The company has a market capitalization of $6.25 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.80 and a beta of 1.48. Piper Sandler Companies has a fifty-two week low of $56.94 and a fifty-two week high of $95.07.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, February 6th. The company reported $6.88 earnings per share for the quarter, topping the consensus estimate of $4.72 by $2.16. The company had revenue of $635.00 million for the quarter, compared to the consensus estimate of $516.52 million. Piper Sandler Companies had a return on equity of 21.85% and a net margin of 14.77%.The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period last year, the firm earned $1.20 EPS. Analysts forecast that Piper Sandler Companies will post 4.68 EPS for the current year.

Piper Sandler Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 3rd. Piper Sandler Companies’s dividend payout ratio is presently 17.72%.

Insider Activity

In other news, President Debbra L. Schoneman sold 20,960 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $87.75, for a total transaction of $1,839,187.60. Following the sale, the president directly owned 11,584 shares of the company’s stock, valued at $1,016,467.04. This represents a 64.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds have recently modified their holdings of PIPR. AQR Capital Management LLC boosted its stake in shares of Piper Sandler Companies by 20.7% during the 1st quarter. AQR Capital Management LLC now owns 5,572 shares of the company’s stock worth $1,380,000 after acquiring an additional 956 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Piper Sandler Companies by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the company’s stock valued at $2,563,000 after buying an additional 473 shares in the last quarter. United Services Automobile Association purchased a new position in Piper Sandler Companies in the 1st quarter valued at about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Piper Sandler Companies by 0.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the company’s stock valued at $10,977,000 after buying an additional 177 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock valued at $42,000 after buying an additional 54 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

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.