Analysts Set Piper Sandler Companies (NYSE:PIPR) Target Price at $392.00

Shares of Piper Sandler Companies (NYSE:PIPR) have been assigned a consensus rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $392.00.

A number of brokerages recently issued reports on PIPR. Wolfe Research reiterated an “outperform” rating and issued a $398.00 target price 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 Sunday, October 12th. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price target for the company from $368.00 to $386.00 in a research note on Monday, November 10th.

Piper Sandler Companies Stock Up 3.9%

Piper Sandler Companies stock opened at $374.90 on Friday. The firm has a 50-day moving average price of $344.16 and a two-hundred day moving average price of $333.69. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 28.25 and a beta of 1.54. Piper Sandler Companies has a 52-week low of $202.91 and a 52-week high of $377.01.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $2.96 by $0.86. The firm had revenue of $455.31 million for the quarter, compared to analysts’ expectations of $408.40 million. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The firm’s revenue was up 33.3% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS. Research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Tuesday, November 25th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, November 25th. Piper Sandler Companies’s payout ratio is presently 21.10%.

Insiders Place Their Bets

In other news, President Debbra L. Schoneman sold 2,500 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the transaction, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. The trade was a 46.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the sale, the chief financial officer directly owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 11,267 shares of company stock worth $3,763,746. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Piper Sandler Companies during the 2nd quarter valued at $59,820,000. American Century Companies Inc. raised its position in shares of Piper Sandler Companies by 1,155.7% during the second quarter. American Century Companies Inc. now owns 200,149 shares of the financial services provider’s stock worth $55,630,000 after purchasing an additional 184,210 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Piper Sandler Companies during the second quarter valued at $51,021,000. Wellington Management Group LLP purchased a new stake in shares of Piper Sandler Companies during the third quarter valued at $38,425,000. Finally, Greenwich Wealth Management LLC increased its stake in Piper Sandler Companies by 415.1% in the 2nd quarter. Greenwich Wealth Management LLC now owns 104,200 shares of the financial services provider’s stock worth $28,961,000 after purchasing an additional 83,971 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.