Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High – Should You Buy?

Piper Sandler Companies (NYSE:PIPR)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $336.53 and last traded at $337.63, with a volume of 1020 shares changing hands. The stock had previously closed at $336.11.

Analyst Ratings Changes

PIPR has been the subject of a number of research analyst reports. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Trading Up 1.3 %

The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 36.38 and a beta of 1.39. The stock has a 50-day simple moving average of $306.39.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.76%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Insider Transactions at Piper Sandler Companies

In related news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now owns 18,341 shares of the company’s stock, valued at $4,840,556.72. The trade was a 8.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the stock. Versor Investments LP acquired a new position in shares of Piper Sandler Companies in the 3rd quarter worth approximately $880,000. Creative Planning raised its stake in Piper Sandler Companies by 34.8% during the third quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock worth $2,636,000 after acquiring an additional 2,399 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in shares of Piper Sandler Companies by 14.8% during the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock valued at $6,869,000 after acquiring an additional 3,124 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Piper Sandler Companies by 1.9% in the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock worth $7,400,000 after purchasing an additional 610 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after purchasing an additional 30,942 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.