Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – Here’s Why

Piper Sandler Companies (NYSE:PIPR)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $288.47 and last traded at $307.46, with a volume of 53900 shares. The stock had previously closed at $302.50.

Analysts Set New Price Targets

Several research analysts have recently commented on PIPR shares. The Goldman Sachs Group lowered Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price for the company. in a research report on Monday, January 6th. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Price Performance

The stock’s fifty day simple moving average is $298.95 and its 200-day simple moving average is $312.03. The stock has a market cap of $5.49 billion, a P/E ratio of 33.02 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results 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. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.84%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Several large investors have recently made changes to their positions in PIPR. USA Financial Formulas bought a new position in Piper Sandler Companies in the 3rd quarter worth approximately $77,000. GAMMA Investing LLC boosted its position in Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 60 shares during the period. CWM LLC grew its stake in shares of Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. KBC Group NV increased its holdings in shares of Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 545 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.